Plurilock Security (PLUR.V) announced they have secured an order through GiaSpace, an IT service reseller, to license its advanced continuous authentication software to a regional pharmaceutical manufacturer based in the southeastern United States.
Through this deal, Plurilock will help the manufacturer protect against credential sharing, unauthorized access, and phishing attacks to ensure business continuity by providing their high-margin ADAPT and DEFEND products at the manufacturer’s facilities. In pharmaceutical manufacturing, intellectual property (IP) is an organization’s key asset, so protecting IP is invaluable.
According to Plurilock’s press release, healthcare organizations are more susceptible to attacks amidst the COVID-19 pandemic, with U.S. healthcare breaches increasing by 55.1% from 2019 to 2020, and that one in ten global pharmaceutical manufacturers are at a high risk of ransomware attacks.
“Plurilock’s high margin software solutions work as a deterrence to attacks and form part of an in-depth defensive cybersecurity strategy, crucial to companies operating today,” stated Ian L. Paterson, CEO of Plurilock. “Modern-day ransomware is more sophisticated than ever, and these skilled adversaries are finding ways to penetrate networks, identify high-value targets, and access critical information before detonating an attack on systems, causing significant damage and downtime for organizations. With the deployment of Plurilock’s authentication software, these organizations will be able to protect the workforce as well as other critical assets against cyberattacks.”
Anyone operating in the southeastern United States is probably very aware of the consequences of poor cybersecurity after the Colonial Pipeline was the victim of a cyber ransomware attack by the DarkSide hacking group. This attack caused fuel shortages in the southeast earlier this month, leading to huge lines at gas stations. DarkSide also promised to claim new victims.
Pharmaceutical manufacturers are not just vulnerable because of their reliance on IP, but also because even a short shut down of their facility could be devastating to those reliant on the drugs being produced at their facilities.
The ADAPT product, which Plurilock is providing the pharmaceutical manufacturers, identifies every user type with recognizable movement patterns, no matter what they’re actually typing. When combined with machine learning, these patterns provide a strong identity signature, allowing the program to automatically monitor people’s patterns. This provides cybersecurity without constantly badgering people with OTPs and two-factor authentications, instead allowing people to get on with their work.
Plurilock’s DEFEND also works in the background to ensure the compromised sessions are flagged. The system is able to detect when a new user begins operating online, even without them having to log in separately.
Following today’s news, PLUR’s share price is up 2 cents and is currently trading at $0.55.
Full disclosure: Plurilock Security is an Equity Guru marketing client.