AbCellera Biologics Inc. 10-K Cybersecurity GRC - 2024-02-20

Page last updated on July 16, 2024

AbCellera Biologics Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-02-20 16:36:57 EST.

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10-K filed on 2024-02-20

AbCellera Biologics Inc. filed a 10-K at 2024-02-20 16:36:57 EST
Accession Number: 0001703057-24-000019

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity. Cybersecurity Risk Management and Strategy The Company maintains an Enterprise Risk Management (ERM) program that is designed to identify, analyze and manage risks, including risks from cybersecurity threats. This program scores, ranks, and reports risks to Company management based on the likelihood and impact the risk has relative to the strategic objectives and financial standing of the Company. The Company maintains a cybersecurity risk management program that includes, but is not limited to, periodic risk assessments and employee awareness training initiatives, as well as the employment of security analytical and assessment tools. We also maintain a cybersecurity incident response plan designed to help the Company defend against evolving cybersecurity threats, which sets out criteria for incident classification and procedures to escalate incidents to the appropriate stakeholders. We regularly monitor and assess the various components of our cybersecurity infrastructure, with the support of both internal and external resources. The Company has also established a process to identify and assess potential risks arising from cybersecurity threats associated with our use of critical third-party service providers. This process includes, as appropriate, conducting assessments of third-party providers’ cybersecurity capabilities and reviewing third party providers’ processes for alignment with our internal cybersecurity requirements. Risks from cybersecurity threats have, to date, not materially affected us, our business strategy, results of operations or financial condition. We discuss how cybersecurity incidents could materially affect us in our risk factor disclosures in Item 1A of this Annual Report on Form 10-K. Cybersecurity Governance The Chief Legal and Compliance Officer (CLO), and our dedicated information technology (IT) team, lead the Company’s overall cybersecurity efforts. The CLO oversees the Company’s cybersecurity risk management through regular meetings with the IT team to discuss, as appropriate, risks from cybersecurity threats. As part of our ERM process, our CLO and other senior management positions report on identified cybersecurity risks, as appropriate, to the Audit Committee and the Board. Management is responsible for the day-to-day management of risks we face, while our Board of Directors (Board), as a whole and through its committees, provides guidance on the oversight of risk management. The Audit Committee reviews the effectiveness of the Company’s governance and management of cybersecurity risks, including those relating to business continuity, regulatory compliance and data management. The Audit Committee, at least annually, reviews and considers the results of our ERM process, including as it relates to risks from cybersecurity threats, and provides updates, as appropriate or required, to management and the Board.

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