TC BioPharm (Holdings) plc 10-K Cybersecurity GRC - 2024-04-01

Page last updated on April 11, 2024

TC BioPharm (Holdings) plc reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-04-01 17:11:58 EDT.

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10-K filed on 2024-04-01

TC BioPharm (Holdings) plc filed an 10-K at 2024-04-01 17:11:58 EDT
Accession Number: 0001493152-24-012486

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity Risk Management and Strategy TC BioPharm recognizes the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and protect the confidentiality, integrity, and availability of our data. Managing Material Risks & Integrated Overall Risk Management Currently, TC BioPharm does not have a formalized cybersecurity risk management process. However, the organization is working toward implementing a framework for assessing, identifying, and managing material risks from cybersecurity threats. The IT department will work to continuously evaluate and address cybersecurity risks in alignment with our business objectives and operational needs. This includes assessing cybersecurity risk as part of an overall risk assessment and considering the likelihood and potential consequences of each risk. Plans also include the identification of critical cybersecurity risks (e.g., malware, phishing, ransomware, and unauthorized access) and the implementation of formalized mitigants to address those risks such as cybersecurity policies and incident response strategy. Third-Party Risk TC BioPharm does not currently engage with third parties in connection with cybersecurity risk management. Third-party consultants including cybersecurity auditors are being considered for future engagement, at which point any risks stemming from the use of third parties will be incorporated in the cybersecurity risk assessment. Risks from Cybersecurity Threats TC BioPharm has not encountered any cybersecurity risks or incidents that have materially impacted our business strategy, operational results, or financial condition. We remain dedicated to maintaining a strong cybersecurity posture by continually analyzing and improving our security procedures to reduce potential risks. This approach to cybersecurity is critical for protecting sensitive information and guaranteeing the reliability of our business operations. Governance Board of Directors Oversight The Board of Directors is acutely aware of the critical nature of managing risks associated with cybersecurity threats. The Board is committed to effective governance in managing risks associated with cybersecurity threats because we recognize the significance of these threats to our operational integrity and stakeholder confidence. The Board of Directors is informed of relevant cybersecurity risks and related updates during quarterly Board meetings by the CFO who is also a Board member. There have been no critical, time sensitive cybersecurity updates thus far, but if this did occur it would be escalated to the Board immediately. 70 Management s Role Managing Risk Within the management team, the responsibility for assessing and managing cybersecurity risk falls under the purview of the Senior IT Manager, whose background includes a Qualification in Network System Engineering coupled with over two decades of experience in fortifying cybersecurity for various companies. Moreover, TC BioPharm partners with a Managed IT service provider. This enriches our collective capabilities by leveraging their extensive experience and specialized skills. This collaboration significantly bolsters our overall cybersecurity stance, creating a well-rounded and robust defense against emerging threats. Monitoring Cybersecurity Incidents TC BioPharm s Senior IT Manager monitors cybersecurity events and logs for unusual activity or potential security breaches within the network. E-mail alerts are sent in real time as notification for any suspicious activity including phishing attempts, suspicious attachments, and other e-mail-related security concerns. The Senior IT Manager also actively utilizes the WatchGuard & Webroot Advance Security tools to conduct regular and thorough scans of the network infrastructure. The tools help identify vulnerabilities, malware, and other potential threats, enabling a proactive measure to prevent and mitigate cybersecurity incidents. Reporting to Board of Directors The CFO holds biweekly meetings with the Senior IT Manager to discuss any pertinent information regarding cybersecurity risks. This includes briefings on existing threat scenarios, updates on incident response efforts, and recommendations for enhancing our cybersecurity stance. As a member of the Board of Directors, the CFO communicates key information to the remaining Board members.

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