TIDMNARF
RNS Number : 0517P
Narf Industries PLC
09 October 2023
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9 October 2023
NARF INDUSTRIES PLC
Awarded $1.8 Million US Healthcare Cyber Security Contract
Proactive Approach to Malware Risk in Electronic Health Records
("EHR")
Narf Industries plc ("Narf", the "Company", or the "Group"),
(LSE: NARF ) (OTCQB: NFIN.F) the cybersecurity group specializing
in high-end threat intelligence and critical infrastructure
security, is pleased to announce that it has been awarded a $1.8
million contract from the US Government's Advanced Research
Projects Agency for Health (ARPA-H).
Under this contract awarded by ARPA-H, NARF will work on the
Digital Health Security (DIGIHEALS [i] ) programme titled
"Electronic Health Record Format for Interoperable Secure
Transformation (EHR-FIST)". This work leverages NARF's cutting-edge
capabilities developed under its multi-million dollar SAFEDOC's
contracts sponsored by another leading government agency, the
Defense Advanced Research Project Agency ("DARPA").
The DIGIHEALS initiative supports innovative research that aims
to protect the U.S. health care system's electronic infrastructure
against hostile threats. SAFEDOCS has the same goal, but focused on
standard business document formats, like PDFs. The complexities in
these file format create opportunities for attackers to hide
malicious code. In the case of DIGIHEALS, the hundreds of health
care management software applications that process EHR are
vulnerable to these advanced threats and put hospitals and patients
at risk from ransomware and disruption of health services.
NARF is advancing innovative capabilities that detects malware
risk buried deep within complex document structures before its
launched and used by applications that can then infect critical
infrastructure networks. Under these research agency funded
contracts, NARF owns the intellectual property (IP) for commercial
purposes and is constructing an array of disruptive advanced threat
detection capabilities to form a next generation threat
intelligence platform.
Dr. Michael Locasto, Director, NARF Government Research and
Development (GR&D) Sector commented. "These research agencies
rely on NARF's game changing approaches to keep pace with evolving
threats. This is our inaugural contract with ARPA-H and we are now
working to expand our relationships across the many other
government and private research agencies involved in critical
infrastructure security."
Steve Bassi, CEO of NARF commented: " It's the cumulative value
and synergistic nature of these incremental research awards that's
important to recognize in NARF's strategy to leverage non-dilutive
research work into commercial products. Over 75% of this year's
revenue, multi-million dollars, is directly contributing to our IP
pipeline and creating the foundation for a new generation of threat
intelligence and vulnerability solutions."
For further information on the Group please visit
www.narfgroup.com or contact:
John Herring NARF jh@narfgroup.com
Catherine Leftley/Paul St Brides Partners narf@stbridespartners.co.uk
Dulieu /Isabel de Salis
------------------- ---------------------------
Peter Krens Tennyson Securities Tel: +44 (0)207 186 9030
------------------- ---------------------------
About NARF Industries plc
Narf Industries (LSE: NARF)(OTCQB: NFIN.F) is a US based leading
provider of cybersecurity research, solutions, and services to
government entities. With a steadfast commitment to protecting
national security and critical infrastructure, it offers
comprehensive expertise in addressing the evolving cyber threats
faced by its clients.
Narf works with various US government agencies including the
Department of Defense ("DoD"), the Defense Advanced Research
Projects Agency ("DARPA"), and the Department of Homeland Security
("DHS"). The Group often collaborates with world renowned private
research companies and leading educational establishments in the
performance of contracts.
Narf's strong track record of successful contract performance
underscores its ability to deliver results. It understand the
critical nature of the work performed by these agencies and the
importance of maintaining the confidentiality and integrity of
their missions.
With NARF's industry-leading expertise, advanced technologies,
and unwavering commitment to excellence, it provides the US
government with the confidence and peace of mind it needs to
navigate the complex and ever-changing cybersecurity landscape.
The Group's strategy leverages government funded research and
business to create and fund innovative and disruptive products for
billion-dollar commercial cybersecurity markets and it has two key
business areas:
Government Research and Development ("GR&D")
-- The Group has a successful history of tendering for, and
winning, government R&D contracts for groundbreaking
technologies, predominantly from DARPA. Its research work is
focused on three, multi-billion cybersecurity market segments:
critical infrastructure protection; open-source software (OSS)
vulnerabilities; and threat intelligence.
-- For these contracts, the Government agency retains government
purpose rights, but the Group has the sole right to sell new
solutions using the intellectual property (IP) to the government
(i.e., GS&S business). For commercial markets the Group owns
the IP rights.
-- The GR&D contracting process may range from 9 to 15
months and, once awarded, performance can range up to 18 months or
longer. The Group projects stepped growth in its GR&D business
targeting synergistic research areas that complement its current
rich IP portfolio.
Government Solutions and Services ("GS&S")
-- The Group develops solutions and performs services for
various US government agencies. Its software solutions address
immediate cybersecurity mission needs. These needs continually
evolve as the nature of cybersecurity threats change, so it also
provides on-going services supporting the operations of the
delivered software solution.
-- The Group enjoys a unique competitive position with GS&S
work through a recently renewed 5-year omnibus contract. This
streamlines government procurement cycles and gives multiple
agencies access to the Group's solutions and services. Agencies
execute task orders, many with awards justified on a sole source
basis.
-- The timing from ideation of task to award is 3 to 6 months.
Tasks performance typically range from 6 to 12 months to complete,
at which time software is delivered and integrated into an
operational system.
[i] https://arpa-h.gov/engage/digiheals/
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