M&A Software for Biotech & Pharma

A biotech or pharma data room typically holds regulatory filings and agency correspondence, clinical and preclinical trial data, chemistry, manufacturing and controls (CMC) documentation, the intellectual property portfolio and license agreements, corporate and legal records, financials and cap table and commercial projections. Partners usually expect it organized by clinical stage or CTD module. In DealRoom those folders live in the virtual data room inside a project room, where each document can be linked to the diligence request that asked for it and permissioned by folder.

The difference is in what reviewers need to see and how long the process runs. Biotech diligence centers on scientific and regulatory evidence (trial results, agency correspondence, CMC and IP) rather than only financial and legal records, large files such as datasets are common and access expands by stage from initial interest to confirmatory diligence. DealRoom supports that with drag-and-drop upload of large files, folder-level permission groups that widen as a deal progresses and request tracking so CRO, auditor and partner questions are answered inside the room.

Licensing data rooms are usually staged: a limited set (non-confidential summary, patent position, headline data) for initial interest, expanded clinical and regulatory folders for full diligence and complete CMC, manufacturing and contract detail for confirmatory diligence. In DealRoom each stage maps to a permission group with folder-level access, so a counterparty is moved to the next group rather than re-invited. "View as" confirms what they can open. The same room works for licensing in or out, since the live page notes DealRoom supports both directions.

DealRoom AI can be applied to any document type a user is permitted to see, for example clinical study reports or license agreements. A team names a summary template, such as "License Agreement Summary", the AI proposes fields and the template is applied across many documents at once, with every extracted value linked to its excerpt and page number. Chat across the data room returns cited passages or says when the documents do not contain the answer. DealRoom does not train models on customer data.

Auditor and CRO questions are logged as requests in DealRoom, each with an assignee, due date, priority and status, so nothing is lost in an email thread. Assigning a request emails the person responsible; they click in, read the ask and drag and drop the file, which is filed into the right data room folder automatically. Comments with @mentions sit on the request and can be scoped to an internal group. The audit log records who answered what and when, which is useful when an auditor returns.

It depends on the vendor; traditional data rooms often charge per page or per gigabyte, which adds up quickly with the large datasets common in life sciences deals. DealRoom prices by project rooms opened, with unlimited users (internal staff, partners, CROs, auditors and counsel), no data overage charges and a price locked for the contract term. Pipeline usage is unlimited. The entry package is called Growth and AI is an add-on. See https://dealroom.net/products/pricing for current packages.