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MUVON Therapeutics

MUVON Therapeutics uses Drooms data room solution to finance further development of novel therapy

About the case study

How the Swiss biotech start-up used Drooms’ data room solution to drive its fundraising and partnering efforts. To help finance phase two of their clinical study, MUVON Therapeutics needed a solution to securely share confidential documents with potential investors. When the company engaged in its first large fundraising round, there was already a significant amount of fundraising documentation because the research had been running for a decade as a university project. The company used its private cloud to store and structure all its fundraising documents. Early on in the process, a Swiss advisor recommended MUVON Therapeutics use a data room for security reasons and recommended Drooms.

Protecting vital information with confidence

Drooms’ data room solution provided Muvon Therapeutics with GDPR-compliant, enterprise-grade security. This was crucial for safeguarding highly confidential documents, such as intellectual property and pre-clinical data, ensuring safe and secure storage within the European Union.

Streamlining administrative tasks for greater focus

Drooms’ intuitive platform significantly reduced administrative efforts for Muvon Therapeutics, particularly in handling NDAs and document uploads. This efficiency enabled the team to concentrate on more critical aspects of their fundraising strategy, streamlining the entire process.

Gaining valuable insights for proactive engagement

The Drooms data room offered Muvon Therapeutics real-time insights into investor activities, such as document views and login frequency. This feature allowed for strategic follow-ups and adjustments in investor engagement, making the fundraising process more dynamic and responsive.

MUVON Therapeutics

MUVON Therapeutics is a clinical stage Life Science spin-off from the University of Zurich. Founded in 2020 and following a decade of research, they are developing a regenerative therapy for the treatment of damaged skeletal muscles in patients with stress urinary incontinence based on autologous cells.

A good recommendation

Steve Kappenthuler is co-founder and Chief Business Officer at MUVON Therapeutics and is also actively supporting the fundraising. He was interested in the idea of a data room because the company wanted to prevent document downloading and wanted control over which documents were disclosed and to whom. Also, the fundraising process would be more successful and efficient with the use of a data room.

THE GOAL

Enhanced credibility
Security was a pre-requisite, but when you use a data room you’re taken more seriously. It is important for us to keep the control over our documents and with Drooms we can do it in a very smart way.

Steve Kappenthuler

Chief Business Officer, MUVON Therapeutics

Safety first

After an initial demo, the MUVON team was impressed by Drooms’ security credentials. Drooms uses GDPR-compliant private servers in Switzerland and Germany and is ISO 27001:2013 and 27018 certified. Therefore, MUVON Therapeutics’ fundraising documents would be stored and processed safely within the European Union. In addition, Drooms offers data room features that ensure enterprise-grade security, permission controls, and detailed activity reporting to enable users to see who is accessing their data room and to control which documents are disclosed to whom.

Smart document control

With such sensitive documentation and data being handled, it’s important for it not to get into the wrong hands. Drooms functionality allows for download restrictions to be placed on files and an automatic document watermark is also added for an extra layer of security. The MUVON team can remain confident that no one will steal or plagarise any data.

Step-by-step document sharing

After the initial online training session with the Drooms Customer Success team, the MUVON team was ready to set up a fundraising data room. They uploaded all their files onto the platform and invited potential investors to review the documents. “It was easy for me to set up the different groups. Each had different access rights to different documents.”, said Steve Kappenthuler. Drooms fully supports the company’s fundraising strategy, which involves different types of investors and partners, from venture capital and large pharmaceutical companies to family offices and individual investors. Depending on the investor type, they start with varying documents and go through the due diligence process slightly differently. MUVON Therapeutics analyses the activity report’s usage data to check how many times investors have logged in, which documents they viewed, how many times, and for how long. Based on this data and the questions they ask, the company can grant the investor permission to view further documents, which are already stored in the data room. This way, everything is already set up, but it is not necessary to give access to the entire documentation upfront. This is extremely important due to the highly confidential documents such as intellectual property, research, and pre-clinical data stored in the data room. “With Drooms, you can see who is active and what they are looking at. That’s a really good insight to have. If you see there has been no activity for the last few days, you know it’s time to reach out.”, said Steve Kappenthuler.

Time-saving fundraising solution

NDA (non-disclosure agreement) for each investor. With Drooms, when an investor logs in to the data room for the first time, they are prompted to accept the existing NDA in the process. Uploading new documents is simple and fast – with a simple drag and drop from the file navigator. Setting up the permissions is intuitive and easily done in a few clicks. Overall, the fundraising process has become much more efficient for MUVON Therapeutics, allowing the team to focus on more important and valuable tasks.

Opening the platform to partners

So far, MUVON has already raised significant funds to support the development of its therapy. After the current fundraising round is completed, the company plans to keep working with Drooms to run further discussions with outsourcing and cooperation partners. If the documentation needs restructuring, Steve Kappenthuler knows that he can also rely on the Drooms Customer Success team to do it, which will save his team even more time.

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