“Intellectual property is the lifeblood of pharmaceutical companies. Very often, there is limited time between receiving patent protection and subsequent expiration,” says Rusty Wiley, CEO, Merrill Corporation. “Because patent protection has a limited window, anything that can maximize revenue-generating potential while it’s open creates business performance upside.”
Founded in 1968, Merrill Corporation is a leading global provider of technology-enabled services with significant experience in both the health care and life sciences industries. Established in 2002, Merrill DataSite provides virtual data room (VDR) software solutions that serve as a well-monitored and controlled platform to store, share, and disseminate necessary information to authorized parties. Since its inception, Merrill DataSite has supported tens of thousands of electronic due diligence efforts for transactions that are worth trillions of dollars.
When it comes to dealing with sensitive information with outside parties, myriad solution providers offer discounted or inexpensive solutions. However, these providers may provide an inadequate level of security, service or expertise. A Merrill DataSite VDR allows companies to determine who can view their documents, and can monitor which documents have been accessed. “Our VDR enables communication with outside parties and exercises strict control and observation of the due diligence process. This could be beneficial if litigation were to occur,” adds Wiley.
The solution also includes features such as Optical Character Recognition (OCR) to simplify searches in the data room, and can create real-time audits and reports.
Merrill DataSite has experience with some of the largest companies and the most complex deals. One of their key differentiators is that they offer a unique blend of service and expertise in addition to their software solutions. For example, when a client opens a new project, they are assigned a dedicated project management team that will guide them through the process of setting up their DataSite, assisting users and companies regardless of their size to save time and transaction cost by streamlining the entire due diligence process. These teams are adept at scanning, uploading, and organizing scores of content 24/7 while exceeding industry standards on security. And because they have experience in the life sciences industry, Merrill can assess whether their client requires a regulatory filing and will configure their necessary documents as per the FDA guidelines.
Merrill DataSite’s fully featured VDR communicates the information with the outside parties without sacrificing security
There is an endless list of success stories which speak to the Merrill DataSite functionality and commitment towards securing the due diligence process. In one such success within the pharma industry, Merrill DataSite facilitated the due diligence process of a leading company specializing in retro metabolic drug design. The Merrill DataSite dedicated project team addressed the client’s time constraints, travel costs and partner confidentiality agreements. In one day, Merrill developed an effective plan to scan, upload, and transfer paper documents into the new VDR.