Bio Green Med Solution, Inc., formerly known as Cyclacel Pharmaceuticals, Inc., reported a significant shift in its financial performance for the fiscal year ending December 31, 2025. The company recognized total revenue of $747,000, a substantial increase from $43,000 in the previous year, primarily due to its acquisition of Fitters Sdn. Bhd., a Malaysian company specializing in fire safety products. This acquisition, completed on September 12, 2025, marked a strategic pivot from the pharmaceutical sector to the fire safety industry, reflecting a new focus on trading and distribution of fire safety equipment.
The company's operating loss for 2025 was $8.4 million, a decrease from the $12 million loss reported in 2024. This reduction in losses was attributed to a decrease in research and development expenses, which fell from $6.7 million in 2024 to $0.9 million in 2025, following the liquidation of Cyclacel Limited, its UK subsidiary. General and administrative expenses increased to $7.7 million, up from $5.4 million in the prior year, largely due to one-time costs associated with the company's transition and changes in management.
In terms of operational metrics, the company reported cash and cash equivalents of $3.5 million as of December 31, 2025, compared to $3.1 million in 2024. However, the company also noted substantial doubt regarding its ability to continue as a going concern, as it expects to exhaust its liquidity by the third quarter of 2026 without additional capital. The company has indicated plans to raise funds through equity offerings or debt financing, but there is no guarantee that such funding will be available on favorable terms.
The acquisition of Fitters has positioned Bio Green Med Solution to capitalize on the growing fire safety market in Malaysia, which is projected to expand at a compound annual growth rate of 7% to 8% through 2030. The company aims to enhance its market share by focusing on regulatory compliance and expanding its product offerings, including fire extinguishers, foam systems, and personal protective equipment. The company’s strategic direction reflects a commitment to establishing a strong presence in the fire safety sector while navigating the challenges of its recent transition from pharmaceutical development.
About Cyclacel Pharmaceuticals, Inc.
Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative cancer medicines targeting cell cycle, epigenetics, and mitosis biology. Its lead program, plogo, is a PLK1 inhibitor aimed at solid tumors and hematological malignancies. The company emphasizes targeted, oral therapies with potential for improved safety and efficacy, seeking strategic partnerships while retaining global rights to its drug candidates.
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