TORONTO, October 17, 2023 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”) (CSE: CYBT, OTCQB: CYBCF) and CodeSecure, formerly the products division of GrammaTech and a leading provider of application security testing products, today announced a technology partnership to help customers proactively monitor and remediate software supply chain security threats.

According to industry sources, reused code is prevalent in virtually all software products. For example, research firm Gartner, Inc. estimates that 40% to 80% of the lines of code in new software projects come from third parties. Most of this external code comes from myriad open-source projects; the remaining proprietary code comes from suppliers that provide little or no transparency to its status or condition.^[1]

To address these challenges, the CodeSecure CodeSentry® software composition analysis platform will provide binary-derived software bill of materials (SBOM) intelligence to Cybeats for automating the detection, prioritization and mitigation of open-source vulnerabilities when source code is not available.

“The partnership with CodeSecure is a natural one for Cybeats as our two class-leading solutions complement each other and will allow us to serve our joint customer base in the key market verticals such as Industrial Control Systems, Medical Device Manufacturers, Telecom and Transportation. CodeSecure is able to provide a solution to customers that require a leading BSCA tool and the generation of SBOMs, for effortless end to end SBOM propagation from build analysis to ingestion monitoring and sharing the SBOMs,” said Bob Lyle, CRO, Cybeats.

“Together Cybeats Studio and CodeSentry enable customers to detect, manage and remediate security vulnerabilities in open-source components to help prevent and better respond to software supply chain attacks like Log4j,” said Andrew Meyer, CMO, CodeSecure. “The integration of CodeSecure and Cybeats provides complete visibility of all known security risks, including actionable insights that reduce business decision time from months to days or even hours, and makes it possible to transition from point in time to continuous SBOM monitoring.”

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About CodeSecure

CodeSecure is a leading global provider of application security testing (AST) solutions used by the world’s most security conscious organizations to detect, measure, analyze and resolve vulnerabilities for software they develop or use. CodeSecure products enable rapid DevSecOps deployments while also securing their software supply chains. CodeSecure has corporate headquarters in Bethesda MD and publishes TalkSecure^[2], an educational resource for product software developers. Visit us at http://www.codesecure.com and follow us on LinkedIn and Twitter.^[3]‍

About Cybeats

Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com^[4]

SUBSCRIBE: For more information, or to subscribe to the Company’s mail list, visit: https://www.cybeats.com/investors 
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Contact:

James Van Staveren

Corporate Development

Phone: 1-888-713-SBOM (7266)

Email: ir@cybeats.com 

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE.  There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein.  The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law.  The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available at sedar.com.

^[1] Gartner, Inc., Hype Cycle for Application Security, 2023, 24 July 2023, Dionisio Zumerle

^[2] https://codesecure.com/learn/category/TalkSecure/

^[3] http://www.codesecure.com

^[4] https://cybeats.com

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