‘Cyber security incident’ hits biotech company
Leeds-based regenerative medical devices company Tissue Regenix Group has been forced to take some of its computer systems offline following a security alert.
This involved unauthorised access to its computer systems, and those of its third-party IT service provider, in the United States. The announcement of the incident initially caused the firm’s share price to fall 15%, though this has since partially recovered.
The listed company says it took immediate steps to manage the threat, appointing external specialists, including forensic cyber security experts to investigate the circumstances and scope of the incident. These investigations are ongoing.
In a statement, the business says: “Tissue Regenix has taken precautionary steps, including taking affected systems offline. This has restricted access to certain business operations, including the company’s ability in the short-term to continue manufacturing in its United States facility, which has been taken offline whilst the incident is being investigated.
“The incident is not believed to have impacted its UK operations or financial systems.
“The company is engaged with its third-party IT service provider, the relevant legal authorities and cyber security experts to rectify the incident as quickly as possible and to minimise any impact on its operations. The time required to resolve the incident is currently unknown.
“The company is also working to understand and quantify the potential financial impact of the incident, including protections afforded under its business disruption insurance.”
