Virtual data rooms facilitate due diligence by eliminating the necessity for physical storage, printing and filing of documents. They allow different parties to examine documents together, even if they are not in the same room or even the same country. Users can access documents on their laptops, desktops and mobile devices by using a VDR. They can protect intellectual property with advanced features, such as dynamic watermarks, and selective distribution.

Companies in the life science industry — which includes biotech pharmaceutical and medical device firms — are some of the biggest users of virtual data rooms. They require secure sharing of sensitive corporate documents with prospective investors and business partners in a safe environment. This can be done through Private Placement Memorandum (PPM) and Private Investment in a Public Entity (PIPE) distribution and M&A due diligence.

Many M&As require the exchange of huge quantities of confidential information. VDRs enable the most sensitive information in a controlled and malleable environment to be shared. They also help the M&A teams to find opportunities and reduce risks.

The best VDR provider can have a significant impact on the flow of your deals. Choose a provider that has a simple user-friendly interface, as well as top-quality customer support. Modern providers like iDeals provide live and in-app chat support with dedicated teams and managers, and helpful resources. They also offer a 30 day trial for free, expert guidance and a guidebook that addresses common questions and concerns.