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
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