Although today’s biotech industry venture funding levels are among the strongest in the sector’s history, some things haven't changed—the volatility resulting from constant innovation, uncertain outcome of clinical trials, and a changing regulatory environment, continue to create challenges both for facilitating growth and establishing strategic alliances.
To thrive in this challenging climate, life science companies need to be equipped with the best tools during fundraising, R&D, clinical trials and establishing effective partnerships. Each of these activities requires thorough due diligence during which intellectual property must be shared efficiently and securely with third parties. A good virtual data room (VDR) is the ideal tool for addressing these challenges. The right virtual data room can save time, minimize risk and increase the likelihood of completing successful transactions.
A good virtual data room also allows biotech companies to court multiple worldwide partners or licensees, while securing data and keeping detailed tracking information as third parties review regulatory submission data, clinical trial information, market statistics, research data and other critical documents. A good virtual data room also allows biotech companies to stage the sharing of sensitive information until the seriousness of the partner merits it. Once a deal is struck with a definitive partner(s) or licensee(s), access to the data room for other users can be retroactively revoked, even for documents that have already been downloaded.
ShareVault is the virtual data room of choice for many biotech companies for the following reasons:
1. Easily secure and control intellectual property and other confidential documents
ShareVault provides powerful tools to easily maintain control of your sensitive documents with enterprise-grade security, even on computers and devices that are outside the control of your IT department. ShareVault's security technology is applied uniformly, regardless of whether documents are viewed on Windows, Mac, or iOS devices. ShareVault features include multi-level encryption, granular access controls, secure printing, dynamic watermarking on each page of the document, and even the ability to revoke access to or “virtually shred” a document, even after it’s been downloaded. LEARN MORE
2. Elegantly organize and present your due diligence materials
ShareVault allows you to present your documents in a structured, attractive and professional presentation for efficient and rapid review on Windows, Mac and iOS devices. ShareVault's unique hierarchical tags feature provides all of the advantages of folders, but with additional flexibility, not available with any other solution. Frequently, it’s important to place the same file in multiple locations in your hierarchical organization. With other solutions, you are required to make copies of the file, and place the copies accordingly. In addition to the cost of the additional storage, version control becomes an issue. With ShareVault, just tag the same file with multiple tags, and the same file will appear in each location. This clean and elegant approach provides the best functionality of both folders and tags, and it's only available from ShareVault. LEARN MORE
3. Prepare more quickly for due diligence
ShareVault speeds up your project by streamlining administrative setup and maintenance tasks. Competing solutions can be clunky, slow and frustrating, requiring many more mouse clicks and delays, especially when making bulk changes to permissions, policies, or the organization of your content.
Getting your content up on ShareVault is quick and easy, regardless of your IT environment. Drag-and-drop hundreds of files and folders, and ShareVault will automatically create the identical hierarchical structure for all of the files uploaded. You can even publish a zip file containing a huge, deeply nested folder structure, and our automated unzip tool takes care of unzipping and creates the identical structure within ShareVault. ShareVault also has powerful batch tools to more quickly update policies and permissions across the platform. LEARN MORE
4. Speed the document review phase
When timelines are tight, nothing beats ShareVault for speeding the document review process, while maintaining tight control over your sensitive content. Regardless of your document sharing application, the last thing you need is a cumbersome solution that forces you to remove security settings in order to keep to your schedule. Continuous scrolling, thumbnail document views, and batch print/save are just a few ShareVault features that accelerate document review while still providing uncompromising security and document control. LEARN MORE
5. Track the due diligence process, while keeping a detailed audit trail
Very few solutions offer both page-level tracking and time-based monitoring of who's seen what and when, providing detailed audit trails for compliance and insightful business intelligence into your users' document review progress.
ShareVault’s detailed audit trail shows which users have seen which document, when, and for how long, including specific pages viewed and the amount of time spent viewing each document. ShareVault also allows you to configure informative reports in seconds with built-in queries, filters and drilldowns. You can print or save your favorite report configurations and/or export them to Excel for further analysis. LEARN MORE
6. Share your regulatory submission data in eCTD format, while preserving hyperlinks
Because of the very confidential nature of eCTD document sets, they are often uploaded to ShareVault for two secure external processes – 1) communicating with outside regulatory advisors in preparation for a regulatory filing, or 2) the sharing of previous filings with prospective partners, investors, potential acquirers, or other third parties.
ShareVault automatically pre-creates CTD and eCTD modules and folder hierarchies. Having this structure already in place within a ShareVault when a biotech company starts the regulatory preparation process saves them the cumbersome effort of manually creating it when they eventually move to a cloud-based repository.
Not only does ShareVault create the eCTD hierarchies, it also preserves the eCTD hyperlinks in the process. When eCTD documents are prepared within an eCTD publishing tool, they may refer to other documents in the set using hyperlinks. Since these documents are stored in separate folders, the links between them have a relationship that allows them to be moved without breaking. Unfortunately, these relationships do not persist when uploaded to typical cloud-based document repositories. With ShareVault, those links are automatically preserved. LEARN MORE
ShareVault for iOS allows your end users to securely view documents on iPhones or iPads. The integrated secure document viewer is extremely fast and lightweight, and since documents are encrypted, it does not require wiping the device after documents are viewed. Compatible with all versions of iPad®, iPad Mini®, iPhone® and iPod Touch®, the app supports ShareVault’s bank-grade security capabilities as well as both page-level and time-based activity tracking. And, a simple Favorites feature makes it quick and easy to mark documents or tags of interest to you: just tap the star! LEARN MORE
ShareVault is the Biotechnology Industry Organization’s (BIO’s) virtual data room of choice, and for years it has been the only VDR available through the BIO Business Solutions® program offering its members significant discounts and complimentary extra features when using ShareVault.
The BIO program with ShareVault, provided through the BIO Business Solutions® program, offers price reductions on ShareVault's primary secure document sharing and VDR services—ShareVault Express, ShareVault Professional and ShareVault for SharePoint. In addition, some of ShareVault's value-added services such as maintaining PDF links and eCTD document structure support are provided at no extra charge to BIO's members through the BIO program with ShareVault.
To learn more about how to successfully navigate the biotech partnering and licensing process, download our free white paper: "Getting Ready for a Biopharma Partnering Deal" by Linda Pullan, PhD, an expert consultant in the biotech partnering field.
Stephen Joseph is Vice President of Market Development at ShareVault where he oversees market development in the Life Sciences arena. Over the course of his career as a technology company founder, CEO and business executive, Steve has worked in a variety of roles helping young companies prepare for investment. He has also helped growth companies rebuild their organizations, redefine or focus business strategy, establish and improve strategic relationships, establish repeatable business processes and metrics, and set up strong smooth-functioning teams.