BIT BIO LIMITED

• ⚠

  Material uncertainty over going concern

  However, until the debt financing is finalised or alternative funding is secured through the issuance of share capital, the Directors acknowledge that the Group and Company will not have sufficient cash reserves to meet cash requirements for at least the next 12 months from the date of approval of these financial statements and that, as such, a material uncertainty exists which may cast significant doubt on the Group's and Company's ability to continue as a going concern.

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. BIT BIO LIMITED 2019-10-14 → present
2. ELPIS BIOMED LTD 2017-01-13 → 2019-10-14
3. CAMBRIDGE CELL TECHNOLOGIE LTD 2016-11-07 → 2017-01-13

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, until the debt financing is finalised or alternative funding is secured through the issuance of share capital, the Directors acknowledge that the Group and Company will not have sufficient cash reserves to meet cash requirements for at least the next 12 months from the date of approval of these financial statements and that, as such, a material uncertainty exists which may cast significant doubt on the Group's and Company's ability to continue as a going concern.”

Group structure

1. BIT BIO LIMITED · parent
   1. Aculive Therapeutics Limited 100% · England · Research and development
   2. Bit Bio Discovery GmbH 70% · Austria · Research and development
   3. Bit Bio Inc. 100% · New Castle · Research and development

Significant events

• “During Q1'25, the Company restructured its resources to focus on the Company's core strengths including its opti-ox technology, industrial scale cell programming, and growing ioCells™ product portfolio. The restructuring impacted 25% of the Company's workforce.”
• “On 15 April 2025, the Company received a further investment of £1,981,094 (USD $2.5 million), which constituted the remaining allocation of the ASA.”
• “On 27 November 2024, the Company entered into an Advance Subscription Agreement (ASA). As of 31 December 2024, the Company had received £21,792,031 (USD $27.5 million) out of the total available subscription of £23,773,125 (USD $30 million).”
• “During the year, the Company has revised its strategy to sharpen its focus on the growing biomedical tools sector while deprioritising therapeutics. An impairment of the Aculive investment has been charged to reflect the decrease in value to the company.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

7

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +41.4%

  £4,886,000 → £6,911,000

• Cash

  -40.8%

  £30,940,000 → £18,308,000

• Net assets

  -52.1%

  £53,215,000 → £25,508,000

• Employees

  +9.5%

  200 → 219

• Operating profit

  -19.7%

  -£51,025,000 → -£61,102,000

• Profit before tax

  -20.6%

  -£51,048,000 → -£61,584,000

• Wages

  +5.7%

  £18,134,000 → £19,170,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers