Virtual Data Room Usage in the Life Science Industry

For mergers or acquisition, a strategic partnership, or a regulatory requirement to share documentation with other entities, companies in the life science industry typically require a VDR to securely share confidential information. Because they often have multiple stakeholders, partners and users involved in the project, the capability to give individual annotations and permissions that are real-time can significantly improve collaboration and productivity.

In addition, iDeals offers a granular permissions system that permits administrators to restrict access to files granted to individuals or groups, including what they can do with them (print copies, downloads copy/paste, or take screenshots) and the types of devices they are able to access the information (computer, mobile). This degree of security makes it easier for administrators to comply with GDPR regulations and other privacy-related requirements for data.

In addition to its advanced document management capabilities, iDeals also ensures that all documents stored in the VDR are regularly backed up to avoid data loss. In the event of an event of natural disaster or technical malfunction, you can restore all your data with minimal or no disruption to your business operations. This is especially important for companies operating in the life sciences industry which are subject to strict regulatory standards and guidelines. iDeals’ data centers are top-of-the-line, with numerous levels of redundancy. They also feature various security protocols to protect sensitive data from cyber attacks. This makes it an excellent option for life science companies who need to safeguard their intellectual property while working with their stakeholders, partners and investors.

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