Bio Green Med Solution Acquires Fitters, Sells Plogosertib Rights for $300k plus $170k
Bio Green Med Solution acquired Fitters Sdn. Bhd. on September 12, 2025, generating $0.7 million in fire safety equipment revenue and sold plogosertib patent rights for $300,000 plus a $170,000 milestone. It held $3.5 million in cash funding operations into Q3 2026 despite a $3.0 million net loss.
1. Pivot to Fire Safety Through Fitters Acquisition
On September 12, 2025, Bio Green Med Solution completed its acquisition of Malaysia-based Fitters Sdn. Bhd., expanding into fire safety materials and equipment distribution. The business contributed $0.7 million in product revenue and incurred $0.6 million in cost of sales for the full year ended December 31, 2025.
2. Asset Sale and Warrant Exchange
In October 2025, the company sold its plogosertib patent rights under an Asset Purchase Agreement for $300,000 plus a potential $170,000 milestone. In November, holders of existing warrants exchanged their instruments for 1,402,605 common shares, streamlining BGMS’s capital structure.
3. Financial Performance and Cash Runway
As of December 31, 2025, cash and cash equivalents totaled $3.5 million compared to $3.8 million a year earlier. Net cash used in operating activities was $4.8 million versus $8.0 million in 2024, and the company reported a $3.0 million net loss, projecting cash to fund operations into Q3 2026.
4. Preferred Stock Dividend
In January 2026, the board declared a $0.15 per share cash dividend on the company’s 6% Convertible Exchangeable Preferred Stock. The dividend was paid on February 1, 2026, to holders of record as of January 22, 2026.