VDRs (virtual data rooms) are software platforms for storing and sharing confidential documentation in a secure setting. They are usually used in due diligence processes however they can be used in a variety of different scenarios. The most common use cases involve merger or acquisition and require the disclosure and examination of significant amounts of confidential information to stakeholders to access.
Look for an VDR that lets you define who is able to do what. It is also possible to think about VDR features like dynamic watermarking, two-factor authentication, and a comprehensive audit trail for digital rights management.
Virtual data rooms are great for investment banking processes like IPOs capital-raising, IPOs, and M&A. They require large-scale document sharing. These environments allow for collaboration and communication among a wide range of participants, including those involved in due diligence, contract negotiation, and other. For biotech companies specifically, a carefully designed VDR helps derisk the business and puts energy and time on turning promising research into approved drugs which can benefit people.