VDRs (virtual data rooms) are software platforms that allow for the storage and sharing confidential documents in a secure environment. They are typically utilized in a due diligence process however they can be used in many other scenarios. Most use cases involve a merger or acquisition and include the furnishing and review of significant quantities of confidential information for those involved to gain access.

Find a VDR that allows you to decide who is allowed to do what. You may want to look at VDR features such as dynamic watermarking as well as two-factor authentication or a full audit track for digital rights management.

Virtual data rooms are perfect for investment banking procedures such as IPOs, capital-raising and M&A. They require large-scale document sharing. These rooms facilitate communication and collaboration between a variety of stakeholders for due diligence, contract negotiations and more. For biotech companies specifically, a thoughtfully constructed VDR helps technological progress to reduce risk for the business and focuses energy and time on turning promising research into approved drugs that can improve the lives of people.