Harvard Apparatus Regenerative Technology, Inc. 10-K Cybersecurity GRC - 2024-03-28

Page last updated on July 16, 2024

Harvard Apparatus Regenerative Technology, Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-28 17:08:45 EDT.

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10-K filed on 2024-03-28

Harvard Apparatus Regenerative Technology, Inc. filed a 10-K at 2024-03-28 17:08:45 EDT
Accession Number: 0001493152-24-011784

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity. Risk management and strategy With the assistance of our IT vendor, we established policies and processes for assessing, identifying, and managing material risk from cybersecurity threats and have integrated these processes into our overall risk management systems and processes. We routinely assess material risks from cybersecurity threats, including any potential unauthorized occurrence on or conducted through our information systems that may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing therein. Primary responsibility for assessing, monitoring and managing our cybersecurity risks rests with an information technology (IT) consultant who reports to our Chief Financial Officer, to manage the risk assessment and mitigation process. Our Board of Directors provides oversight to our cybersecurity efforts to ensure effective governance in managing risks associated with cybersecurity threats. Our CFO provides periodic updates to the Board of Directors regarding our cybersecurity program, including information about cyber risk management governance and status updates on various projects intended to enhance the overall cybersecurity posture of the Company. We conduct periodic risk assessments to identify cybersecurity threats, as well as assessments in the event of a material change in our business practices that may affect information systems that are vulnerable to such cybersecurity threats. These risk assessments include identification of reasonably foreseeable internal and external risks, the likelihood and potential damage that could result from such risks, and the sufficiency of existing policies, procedures, systems, and safeguards in place to manage such risks. Following these risk assessments, responses may include re-design, implementation, and maintenance of reasonable safeguards to minimize identified risks and address any identified gaps in existing safeguards; and regularly monitoring of the effectiveness of our safeguards. As part of our overall risk management system, we monitor and test our safeguards and train our employees on these safeguards, in collaboration with IT and management. Personnel at all levels and departments are made aware of our cybersecurity policies through trainings. We engage consultants, or other third parties in connection with our risk assessment processes. These service providers assist us to design and implement our cybersecurity policies and procedures, as well as to monitor and test our safeguards. We have not encountered cybersecurity challenges that have materially impaired our operations or financial standing. For additional information regarding risks from cybersecurity threats, please refer to " Cyber-attacks or other failures in telecommunications or information technology systems and deficiency in our, or those of third parties upon which we rely, cybersecurity could result in information theft, data corruption and significant disruption of our business operations." under Item 1A, “Risk Factors,” in this annual report on Form 10-K. Governance One of the key functions of our board of directors is informed oversight of our risk management process, including risks from cybersecurity threats. Our board of directors is responsible for monitoring and assessing strategic risk exposure, and our executive officers are responsible for the day-to-day management of the material risks we face. Our board of directors administers its cybersecurity risk oversight function directly as a whole, as well as through the audit committee. Our Chief Financial Officer is primarily responsible to assess and manage our material risks from cybersecurity threats with assistance from third-party service providers. Our Chief Financial Officer oversees our cybersecurity policies and processes, including those described in “Risk Management and Strategy” above. The cybersecurity risk management program includes tools and activities to prevent, detect, and analyze current and emerging cybersecurity threats, and plans and strategies to address threats and incidents.

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