BIORA THERAPEUTICS, INC. 10-K Cybersecurity GRC - 2024-04-01

Page last updated on April 11, 2024

BIORA THERAPEUTICS, INC. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-04-01 16:45:47 EDT.

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10-K filed on 2024-04-01

BIORA THERAPEUTICS, INC. filed an 10-K at 2024-04-01 16:45:47 EDT
Accession Number: 0000950170-24-039423

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity In the ordinary course of our business, we collect, use, store, and transmit digitally large amounts of confidential, sensitive, proprietary, personal, and protected health information. The secure maintenance of this information and our information technology systems is important to our operations and business strategy. To this end, we have implemented processes designed to assess, identify, and manage risks from potential unauthorized occurrences on or through our information technology systems that may result in adverse effects on the confidentiality, integrity, and availability of these systems and the data residing therein. These processes are managed and monitored by our information technology department, which is led by our Director of Information Technology, and include mechanisms, controls, technologies, systems, and other processes designed to prevent or mitigate data loss, theft, misuse, or other security incidents or vulnerabilities affecting the data and maintain a stable information technology environment. For example, we conduct vulnerability testing, data recovery testing, security audits, and ongoing risk assessments, including due diligence on our key technology vendors, and other contractors and suppliers. We also conduct regular employee training on cyber and information security, among other topics. In addition, we consult with outside advisors and experts, when appropriate, to assist with assessing, identifying, and managing cybersecurity risks, including to anticipate future threats and trends, and their impact on the Company s risk environment. Our Director of Information Technology, who has over 15 years of experience managing information technology and cybersecurity matters and holds a Master’s Degree in computer science with a concentration in cybersecurity, together with our senior leadership team, is responsible for assessing and managing cybersecurity risks. We consider cybersecurity, along with other significant risks that we face, within our overall enterprise risk management framework. We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, but we face certain ongoing cybersecurity risks threats that, if realized, are reasonably likely to materially affect us. Additional information on cybersecurity risks we face is discussed in Part I, Item 1A, Risk Factors, under the heading “Our internal information technology systems, or those of any of our third party service providers, or potential future collaborators, may fail or suffer security or data privacy breaches or other unauthorized or improper access to, use of, or destruction of our proprietary or confidential data, employee data or personal data, which could result in additional costs, loss of revenue, significant liabilities, harm to our brand and material disruption of our operations.” Our Board of Directors, as a whole and at the committee level, has oversight of the most significant risks facing us and our processes to identify, prioritize, assess, manage, and mitigate those risks. Our Audit Committee, which is comprised solely of independent directors, oversees our cybersecurity risks. The Audit Committee receives regular updates on cybersecurity and information technology matters and related risk exposures from our Director of Information Technology as well as other members of the senior leadership team. The Board also receives updates from management and the Audit Committee on cybersecurity risks on at least an annual basis.

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