Mereo BioPharma Group plc 10-K Cybersecurity GRC - 2024-03-27

Page last updated on July 16, 2024

Mereo BioPharma Group plc reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-27 17:20:24 EDT.

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10-K filed on 2024-03-27

Mereo BioPharma Group plc filed a 10-K at 2024-03-27 17:20:24 EDT
Accession Number: 0000950170-24-037348

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity Cybersecurity Risk Management and Strategy We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We design and assess our program based on the U.K. Cyber Essentials and the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF). This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use these frameworks as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. Our cybersecurity risk management program includes: 84 - Identification and Reporting: We have implemented a cross-functional approach to assessing, identifying and managing material cybersecurity threats and incidents to our critical systems, information and our enterprise information technology environment. Our program includes controls and procedures to identify, classify and escalate certain cybersecurity incidents to provide management visibility and obtain direction from management as to the public disclosure and reporting of material incidents in a timely manner. - Technical Safeguards: We implement technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality, and access controls, which are evaluated and improved through vulnerability assessments and cybersecurity threat intelligence. - Third Party Risk Management: We use external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls. We maintain a risk-based approach to identifying and overseeing material cybersecurity threats presented by third parties, including vendors, service providers, and other external users of our systems, as well as the systems of third parties that could adversely impact our business in the event of a material cybersecurity incident affecting those third party systems, including any service providers, suppliers, and vendors that have access to our critical systems and information. - Education and Training: We provide annual cybersecurity awareness training and on-going phishing simulation testing for our employees, incident response personnel and senior management in order to communicate evolving information security policies, standards, processes and practices and to provide them with the tools to make them aware of processes on addressing cybersecurity threats. - Incident Response and Recovery Planning: We maintain incident response, business continuity, and disaster recovery plans designed to address our response to a cybersecurity incident. We have not identified any specific risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. For more information, see the section “Item 1A. Risk Factor-Risks Related to Healthcare Laws and Other Legal Compliance Matters-Our business and operations may suffer in the event of information technology system failures, cyberattacks or deficiencies in our cybersecurity.” Cybersecurity Governance Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the audit and risk committee oversight of cybersecurity and other information technology risks. The audit and risk committee oversees management’s implementation of our cybersecurity risk management program. Material cybersecurity risks are identified by members of our team. Our Head of IT is primarily responsible for managing our cybersecurity risk assessment processes, including those described in “Cybersecurity Risk Management and Strategy” above, our security controls and our response to cybersecurity incidents, with assistance from third party service providers. The audit and risk committee receives periodic reports and briefings from management on our cybersecurity risks. In addition, management updates the audit and risk committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. The audit and risk committee reports to the full Board regarding its activities, including those related to cybersecurity. Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal IT personnel; threat intelligence and other information obtained from governmental, public or private sources, including third party service providers engaged by us; and alerts and reports produced by security tools deployed in the information technology environment.

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