BIONOMICS LIMITED/FI 10-K Cybersecurity GRC - 2024-09-30

Page last updated on October 1, 2024

BIONOMICS LIMITED/FI reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-09-30 06:38:34 EDT.

Filings

10-K filed on 2024-09-30

BIONOMICS LIMITED/FI filed a 10-K at 2024-09-30 06:38:34 EDT
Accession Number: 0001213900-24-082909

Note: filing items unformatted. Drop us a note with the above URL to help us prioritize formatting it!

Item 1C. Cybersecurity.

Item 1C. Cybersecurity Risk management and strategy Bionomics 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 Our risk management team has evaluated and addressed cybersecurity risks in alignment with our business objectives and operational needs and have integrated them into our overall risk management system. Engage Third-parties on Risk Management Recognizing the complexity and evolving nature of cybersecurity threats, Bionomics has started negotiating and engaging with a range of external experts, including cybersecurity assessors, consultants, and auditors in evaluating and testing our risk management systems. These partnerships will enable us to leverage specialized knowledge and insights, ensuring our cybersecurity strategies and processes remain at the forefront of industry best practices. Oversee Third-party Risk Because we are aware of the risks associated with third-party service providers, Bionomics will implement stringent processes to oversee and manage these risks. We will conduct thorough security assessments of all third-party providers before engagement and maintain ongoing monitoring to ensure compliance with our cybersecurity standards. Risks from Cybersecurity Threats We have not encountered cybersecurity challenges that have materially impaired our operations or financial standing. 106 Governance The Board of Directors is acutely aware of the critical nature of managing risks associated with cybersecurity threats. The Board will form a risk management team led by Tim Cunningham, our CFO, to establish robust oversight mechanisms to ensure effective governance in managing risks associated with cybersecurity threats because we recognize the significance of these threats to our operational integrity and stakeholder confidence. Board of Directors Oversight The Audit & Risk Management Committee is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for this domain. The Audit & Risk Management Committee is composed of board members with diverse expertise including risk management, technology, and finance, equipping them to oversee cybersecurity risks effectively. Management’s Role in Managing Risk Our CFO plays a pivotal role in informing the Audit & Risk Management Committee on cybersecurity risks. He will provide the latest developments in cybersecurity to the Audit & Risk Management Committee on a regular basis, with a minimum frequency of once per year. Risk Management Personnel Our IT Manager is actively involved in assessing, monitoring and managing our cybersecurity risks. He has 30 years of experience in the field of cybersecurity, and his in-depth knowledge and experience are instrumental in developing and executing our cybersecurity strategies. Monitor Cybersecurity Incidents Our IT Manager implements and oversees processes for the regular monitoring of our information systems, which includes having a well-defined incident response plan. In the event of a cybersecurity incident, we can take immediate actions to mitigate the impact and long-term strategies for remediation and prevention of future incidents. Reporting to Board of Directors Our IT Manager will provide regular updates to our CEO, Spyros Papapetropoulos, regarding all aspects related to cybersecurity risks and incidents. This ensures that the highest levels of management are kept abreast of the cybersecurity posture and potential risks faced by Bionomics. Furthermore, significant cybersecurity matters and strategic risk management decisions are escalated to the Board of Directors, ensuring that they have comprehensive oversight and can provide guidance on critical cybersecurity issues.

Company Information