Cyclacel Group plc
Malaysia, MY Β· 6 employees on LinkedIn Β· Public Β· 2 known investors
Bio Green Med Solution, Inc. operates a biopharmaceutical division developing cancer medicines targeting cell cycle and epigenetics, and a fire safety division supplying protective equipment and fire safety products globally. The company is headquartered in Malaysia and serves both pharmaceutical and industrial safety markets.
Also known as BGMS Β· Bio Green Med Solution, Inc. Β· CYCC Β· Cyclacel Group plc Β· Cyclacel Pharmaceuticals, Inc.
Investors Β· 2
Also in the syndicate Β· 1
Company profile
researched Aug 2026Bio Green Med Solution, Inc., formerly Cyclacel Pharmaceuticals, Inc., is a Delaware-incorporated company headquartered at Level 10, Tower 11, Avenue 5, No. 8 Jalan Kerinchi, Kuala Lumpur, Malaysia. It operates across two sectors: fire protection and biopharmaceuticals. Its common stock and 6% convertible preferred stock trade on The Nasdaq Capital Market under the symbols BGMS and BGMSP, having commenced trading under those symbols on September 12, 2025 following a name change approved by stockholders on September 4, 2025.
The fire safety division is built around FITTERS Sdn. Bhd., a Kuala Lumpur-headquartered company established in 1982 and formerly a wholly-owned subsidiary of Malaysian listed company FITTERS Diversified Berhad. Fitters supplies and trades protective and fire safety equipment, including fire extinguishers and fire equipment, foam systems, fire-resistant doors, personal protective equipment and fire safety apparel, serving commercial, industrial, healthcare and residential sectors domestically and internationally.
The biopharmaceutical division is a clinical-stage oncology business developing cancer medicines based on cell cycle, epigenetics/transcriptional regulation and mitosis biology. Its lead asset is plogosertib, a polo-like kinase 1 (PLK1) inhibitor for advanced cancers and hematological malignancies, which was in Phase 1 clinical trials as of January 2025 and was acquired on March 10, 2025 from Cyclacel Limited, a wholly-owned UK subsidiary placed into liquidation. A new alternative-salt oral formulation of plogosertib with improved bioavailability is under development. The company previously developed fadraciclib, a CDK2/9 inhibitor in Phase 2 trials, a program that has been discontinued. Earlier pipeline work included CYC116, an Aurora kinase inhibitor designated as a development candidate in 2005, and CYC140, a PLK1 inhibitor studied in esophageal cancer and acute leukemia.
Business model
The company combines a trading and distribution business in fire protection equipment, which supplies certified fire safety and protective products to domestic and international customers, with a clinical-stage biopharmaceutical R&D operation that develops oncology drug candidates and has historically funded itself through equity issuance rather than product revenue.
Fire safety operations generate revenue from the supply and trading of fire protection and personal protective equipment; the biopharmaceutical operations are clinical-stage and have relied on equity financings, including a $3.1 million preferred stock purchase agreement and $4.1 million of equity financing received in early 2025, and on United Kingdom research and development tax credits.
Traction
For the year ended December 31, 2024, the company reported a net loss of $11.2 million, down from $22.6 million in 2023, with R&D expenses of $6.7 million versus $19.2 million and G&A expenses of $5.4 million versus $6.7 million. Cash and cash equivalents were $3.1 million at December 31, 2024 ($7.2 million pro forma including $4.1 million of post-year-end equity financing), against $3.4 million a year earlier, with net cash used in operating activities of $8.0 million in 2024 versus $16.1 million in 2023.
Latest developments
Following the September 12, 2025 completion of the Fitters acquisition and the corporate name change, the company reported first quarter financial results on May 14, 2026, announced a business combination agreement to acquire Future NRG Sdn. Bhd. on June 4, 2026, and reported second quarter financial results on August 12, 2026.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Through Fitters, the fire safety division is described as a participant in Malaysia's fire safety market with roughly four decades of operating history and a product portfolio spanning fire-fighting equipment, foam systems, personal protective equipment and safety apparel. The biopharmaceutical division positions itself as a pioneer in cancer cell cycle biology.
Technology
The biopharmaceutical programs target cell cycle, epigenetics, transcriptional regulation and mitosis biology in cancer. Plogosertib is an orally administered PLK1 inhibitor being reformulated as an alternative salt to improve bioavailability. Fadraciclib is a CDK2/9 inhibitor previously evaluated in Phase 2. Earlier candidates include CYC116, a small-molecule Aurora kinase inhibitor with anticancer activity after oral administration in hematological and solid tumor models, and CYC140, a PLK1 inhibitor evaluated preclinically in esophageal cancer and acute leukemia.
Go-to-market
Fire safety products are supplied to commercial, industrial, healthcare and residential sectors in domestic Malaysian and international markets. The biopharmaceutical programs target patients with advanced solid tumors and hematological malignancies.
Geography
Headquartered in Kuala Lumpur, Malaysia, with the fire safety subsidiary Fitters Sdn. Bhd. also based in Kuala Lumpur. The company was previously headquartered in Berkeley Heights, New Jersey, United States, and its predecessor entities Cyclacel Limited and Cyclacel Group plc were incorporated in England. Securities are listed in the United States on Nasdaq.
History
The biopharmaceutical business traces to Cyclacel Limited, a company incorporated in England (registered number 03237549), which was a subsidiary of Cyclacel Group plc (incorporated in England, number 05090795). In 2005 Cyclacel Group plc designated the Aurora kinase inhibitor CYC116 as its third development candidate. The business later operated as US-listed Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC/CYCCP), based in Berkeley Heights, New Jersey. In January 2025 investor David Lazar agreed to purchase $3.1 million of Series C and Series D convertible preferred stock and became interim CEO, and the board was reconstituted. On February 26, 2025 Datuk Dr. Doris Wong Sing Ee acquired the majority interest and became Chief Executive Officer and Executive Director. On March 10, 2025 the company acquired plogosertib from Cyclacel Limited, which entered liquidation and was deconsolidated. Under a share exchange agreement dated May 6, 2025, the company completed the acquisition of FITTERS Sdn. Bhd. on September 12, 2025, and simultaneously changed its name to Bio Green Med Solution, Inc.
Risks & controversies
As of April 2025 the company stated its available cash would fund planned activities only into the second quarter of 2025. In January 2025 it disclosed a Nasdaq extension to demonstrate compliance with the minimum stockholders' equity requirement by February 6, 2025, warning that failure to regain compliance could subject its securities to delisting. Its UK subsidiary Cyclacel Limited entered liquidation and was deconsolidated, the fadraciclib program was discontinued, and the board directed management to cut operating costs while exploring strategic alternatives.
Compiled by commissioned research from 7 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 11
launches, deals, and filingsThe company announced a business combination agreement to acquire Future NRG Sdn. Bhd.
The company completed a voluntary share exchange under a May 6, 2025 agreement in which FITTERS Diversified Berhad exchanged 100% of the shares of FITTERS Sdn. Bhd. for 699,158 shares of company common stock, making Fitters a wholly-owned subsidiary.
Stockholders approved amendments to the certificate of incorporation on September 4, 2025 changing the corporate name to Bio Green Med Solution, Inc.; the amendment became effective September 12, 2025 and the common and preferred stock began trading under symbols BGMS and BGMSP.
Following the resignations of Avraham Ben-Tzvi and David Natan, the company appointed Inigo Angel Laurduraj and Dr. Satis Waran Nair Krishnan as independent directors.
The company acquired plogosertib, a PLK1 inhibitor for advanced cancers and hematological malignancies, from its wholly-owned subsidiary Cyclacel Limited, which is in liquidation.
Datuk Dr. Doris Wong Sing Ee acquired the majority interest in Cyclacel Pharmaceuticals and was appointed Chief Executive Officer and Executive Director.
The company entered a securities purchase agreement with investor David Lazar for 1,000,000 Series C and 2,100,000 Series D convertible preferred shares at $1.00 per share for aggregate gross proceeds of $3.1 million, to settle outstanding liabilities and for general corporate purposes.
$3.1M source β
Spiro Rombotis stepped down as Chief Executive Officer and David Lazar was appointed interim CEO. David Natan joined the board as audit committee chair; Dr. Kenneth Ferguson, Dr. Christopher Henney, Dr. Brian Schwartz, Dr. Robert Spiegel and Karin Walker resigned.
The company disclosed receipt of written communication from Nasdaq granting a new deadline of February 6, 2025 to demonstrate compliance with the minimum stockholders' equity requirement, with possible delisting if not met.
Cyclacel Limited entered liquidation, leading to deconsolidation of its results and an anticipated increase in stockholders' equity of approximately $5.0 million; development of fadraciclib was discontinued.
$5M source β
Cyclacel Group plc announced that CYC116, an oral Aurora kinase inhibitor with anticancer activity in hematological and solid tumor models, entered IND-directed preclinical development, with an IND filing planned with the FDA in 2006.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 7
primary sources listed
- Cyclacel Group plccyclacel.com Β· web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Cyclacel Group plc do?
- Nasdaq-listed diversified company (formerly Cyclacel Pharmaceuticals) combining Malaysian fire safety trading with clinical-stage oncology R&D.
- Who are Cyclacel Group plc's investors?
- Cyclacel Group plc's investors include SPRINGROCK VENTURES.
- Where is Cyclacel Group plc headquartered?
- Cyclacel Group plc is headquartered in Malaysia, MY.