Navigation Links
Life Science Firms are Turning to Firmex to do Deals Online
Date:9/21/2009

Life science firms have to follow a rigorous documentation process to comply with a host of FDA regulations. As a result, when entering into various corporate agreements these firms are faced with the daunting task of sharing thousands of confidential documents. Firmex provides life science firms with an affordable unlimited use facility to share thousands of confidential documents securely and indefinitely. Typical uses are corporate finance, partnering, M&A and executive reporting.

(PRWEB) September 21, 2009 -- Life science firms have to follow a rigorous documentation process to comply with a host of FDA regulations. As a result, when entering into various corporate agreements these firms are faced with the daunting task of sharing hundreds if not thousands of confidential documents. "We have more customers in life sciences than any other corporate vertical. They have a far more document intensive business than other industries and are frequently engaged in transactions" says Joel Lessem, Firmex CEO. The Firmex product is licensed by life science firms to manage confidential document sharing processes on an unlimited use basis. Firmex's flat fee subscription pricing based on internal users accommodates small, medium and large global organizations. Since approximately 82% of the industry's firms have fewer than fifty employees, having an offering that is affordable to smaller companies is essential. Further as a hosted solution, there are no IT costs or implementation fees. Firmex provides world-class security and data back-up as part of the subscription.

Common uses of Firmex for life science firms are:

1. Multiple Rounds of Equity Financing
Since most firms are in the development stage, they are almost entirely dependent on investor capital. As a result, the majority of life science firms are either raising capital or preparing to raise capital on a continuous basis.

2.Corporate Partnering
Larger life science firms frequently partner with smaller life science firms to develop new products. The combination of the creativity of small firms with the financial strength, clinical development and marketing expertise of a larger firm is a way firms efficiently bring new products to market. Studies conclude that it is more cost-effective and less risky for established firms to actively partner with smaller firms who may be more efficient at product innovation, rather than to try and develop new products themselves.

3.Mergers & Acquisitions
Life Science firms will hedge risk with a number of potential candidate products. Some of these will make rapid clinical progress and become the core of the firm's strategic direction. Selling non-core IP helps a firm generate cash and to focus on core strategy. The acquisition of core IP helps deliver necessary value and pipeline for future financing or partnerships.

4.Executive and Board Reporting
Secure document sharing also applies to internal reporting processes. A common request comes from executives who want up-to-date reporting and are frustrated with delayed access to information. Normally, managers and staff use email to resend documents to various stakeholders, as the documents are often buried in overloaded email inboxes. Furthermore, board members need access to documents from remote locations. By keeping updated key documents online eliminates a lot of unnecessary work and keeps staff abreast of current and key information.

5.Security, Reliability and Accessibility
Locating and reviewing key corporate documents stored on a local file server is neither always accessible nor reliable. Local file servers generally don't have real-time failover, several weeks of diesel powered generators and multiple-firewalls. In fact, imagine the cost of the worst case scenario (earth quake, fire or flood) in which documentation is lost or near impossible to recover. A lesser disaster could be a hard drive failure and inadequate backup, where documents may be recovered by not in an organized manner. Even if there is an off-site backup file, it can take weeks to re-organize the information. A hosted solution, with tier one security and business continuity standards, eliminates these risks.

About Firmex
Firmex™ is a secure, collaborative, and branded virtual data room environment for conducting due diligence, reviewing transaction drafts, closing deals and providing document libraries online. Firmex is licensed to organizations that seek to enhance and streamline their transactional and document exchange processes.

###

Read the full story at http://www.prweb.com/releases/2009/09/prweb2889134.htm.


'/>"/>
Source: PRWeb
Copyright©2009 Vocus, Inc.
All rights reserved

Related biology technology :

1. Arena Pharmaceuticals to Present at the UBS Global Life Sciences Conference
2. Covance to Present at UBS Global Life Sciences Conference
3. J. Craig Venter, Ph.D. to Receive National Medal of Science From President Obama
4. Regado Biosciences Announces Allowance in Europe of a Fundamental Patent Broadly Covering Oligonucleotide Modulators to Blood Coagulation Factor Aptamers
5. NeurogesX to Present at UBS Global Life Sciences Conference
6. YM BIOSCIENCES REPORTS NIMOTUZUMAB APPROVED FOR MARKETING IN MEXICO
7. American Capital Receives $182 Million In Proceeds From Sale of Axygen Bioscience
8. Kensey Nash to Present at the 2009 UBS Global Life Sciences Conference
9. Sangamo BioSciences Announces Presentation at the UBS Global Life Sciences Conference
10. Neurocrine Biosciences to Present at the UBS Global Life Sciences Conference
11. Micromet to Present at the UBS Global Life Sciences Conference on September 22, 2009
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/9/2017)... (PRWEB) , ... October 09, 2017 , ... The award-winning ... to broadcast first quarter 2018. American Farmer airs Tuesdays at 8:30aET on RFD-TV. ... is faced with the challenge of how to continue to feed a growing nation. ...
(Date:10/9/2017)... (PRWEB) , ... October 09, 2017 , ... ... a four-tiered line of medical marijuana products targeting the needs of consumers who ... packaging of Kindred takes place in Phoenix, Arizona. , As operators of two ...
(Date:10/7/2017)... ... October 06, 2017 , ... ... instruments and applications consulting for microscopy and surface analysis, Nanoscience Instruments is ... Nanoscience Analytical offers a broad range of contract analysis services for advanced ...
(Date:10/7/2017)... 6, 2017  The 2017 Nobel Prize in ... Jacques Dubochet, Joachim Frank and ... cryo-electron microscopy (cryo-EM) have helped to broaden ... biology community. The winners worked with systems manufactured ... produce highly resolved, three-dimensional images of protein structures ...
Breaking Biology Technology:
(Date:6/30/2017)... 30, 2017 Today, American Trucking Associations ... of face and eye tracking software, became the ... program. "Artificial intelligence and advanced ... monitor a driver,s attentiveness levels while on the ... to detect fatigue and prevent potential accidents, which ...
(Date:5/16/2017)... TEANECK, N.J. , May 16, 2017  Veratad ... leading provider of online age and identity verification solutions, ... the K(NO)W Identity Conference 2017, May 15 thru May ... Ronald Regan Building and International Trade Center. ... across the globe and in today,s quickly evolving digital ...
(Date:4/19/2017)... York , April 19, 2017 ... as its vendor landscape is marked by the presence ... market is however held by five major players - ... Together these companies accounted for nearly 61% of the ... the leading companies in the global military biometrics market ...
Breaking Biology News(10 mins):