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.
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.
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.
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.
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.
