Cytek Biosciences, Inc. 10-K Cybersecurity GRC - 2024-03-13

Page last updated on April 11, 2024

Cytek Biosciences, Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-13 16:42:38 EDT.

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10-K filed on 2024-03-13

Cytek Biosciences, Inc. filed an 10-K at 2024-03-13 16:42:38 EDT
Accession Number: 0001628280-24-010933

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity. Risk management and strategy We have implemented and maintain various information security processes designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, third party hosted services, communications systems, hardware and software, and our critical data, including intellectual property, confidential information that is proprietary, strategic or competitive in nature, and the data of our partners ( Information Systems and Data ). Our Chief Operating Officer ( COO ) and our information technology ( IT ) department help identify, assess, and manage our cybersecurity threats and risks. Our information technology department identifies and assesses risks from cybersecurity threats by monitoring and evaluating our threat environment using various methods including, for example, evaluating threats reported to us, conducting threat and vulnerability assessments, and performing audits. Depending on the environment, system, and data, we implement and maintain various technical, physical, and organizational measures, processes, standards, and/or policies designed to manage and mitigate material risks from cybersecurity threats to our Information Systems and Data, including, for example: a security incident response plan, disaster recovery and business continuity plans, encryption of data, access controls, asset management, and penetration testing. Our assessment and management of material risks from cybersecurity threats are integrated into our overall risk management processes. For example, our IT department works with senior management to prioritize our risk management processes and mitigate cybersecurity threats that are more likely to lead to a material impact to our business, and our senior management evaluates material risks from cybersecurity threats against our overall business objectives and reports to our board of directors, which evaluates our overall enterprise risk. We use third-party service providers to assist us from time to time to identify, assess, and manage material risks from cybersecurity threats, including for example, professional services firms such as legal counsel, cybersecurity software providers and penetration testing firms. We use third-party service providers to perform a variety of functions throughout our business, such as cloud-based infrastructure hosting, data hosting, and encryption and authentication services. We have a vendor management program to manage cybersecurity risks associated with our use of these providers, which may include regular security assessments, audits, and compliance checks. Depending on the nature of the services provided, the sensitivity of the Information Systems and Data at issue, and the identity of the provider, our vendor management process may involve different levels of assessment designed to help identify cybersecurity risks associated with a provider. For a description of the risks from cybersecurity threats that may materially affect our business and how they may do so, see the section titled Risk factors in this Annual Report on Form 10-K, including If our information technology systems or data, or those of third parties upon which we rely, are compromised now, or in the future, we could experience adverse consequences resulting from such a compromise, including but not limited to regulatory investigations or actions litigation fines and penalties disruptions of our business operations reputational harm loss of revenue or profits loss of customers or sales and other adverse consequences. Governance Our board of directors addresses our cybersecurity risk management as part of its general oversight function and is responsible for overseeing our cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats. Our cybersecurity risk assessment and management processes are implemented and maintained by certain members of our management team, including our COO, Mr. Chris Williams. Mr. Williams has experience in the security of both corporate and technical systems as well as business continuity planning in previous security operations roles at public pharmaceutical companies. 62 Table of Contents Management is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into our overall risk management strategy, and communicating key priorities to relevant personnel. Management is also responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. Our security incident response plan is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including our COO and senior director of global information technology. Our COO works with our IT department to help us mitigate and remediate cybersecurity incidents of which they are notified. In addition, our incident response process includes reporting to our board of directors for certain cybersecurity incidents. Our board of directors receives periodic reports from management concerning our significant cybersecurity threats and risk and the processes we have implemented to address them. Our board of directors also receives various reports, summaries or presentations related to cybersecurity threats, risk and mitigation.

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