How iDeals helped the biotech HMNC raise funds for its cutting edge research | iDeals Virtual Data Room

How iDeals helped the biotech HMNC raise funds for its cutting edge research

Healthcare

How iDeals helped the biotech HMNC raise funds for its cutting edge research

Overview

HMNC Brain Health is a visionary biotech company focused on developing targeted treatments for mental health disorders.

In 2022, they were in search of a platform to support their growth and innovation, facilitating fundraising, and future development plans. Their main priority? Security.

But apart from security, they were also looking for a solution that transcended the limitations of the current tools they were using, that would offer excellent customer care and allow for frictionless collaboration. 

“It was crucial to have excellent customer care, in case any issues or questions arose. iDeals offers that and also robust features that enable seamless collaboration and streamlined communication among team members and potential investors,” commented Shraddha Betgiri, HMNC Brain Health’s Business Development Manager.

The context

Founded in 2010, HMNC Brain Health is a Munich-based global precision psychiatry biopharma company pioneering the development of personalized therapies for targeting both Major Depressive Disorder (MDD) and Treatment-Resistant Depression (TRD).

With their vision, innovative technology and determination to improve mental health, the company planned an expansion and embarked on a large-scale licensing and fundraising journey.

Key challenges

HMNC Brain Health started looking for a platform to manage their fundraising securely.

The other solutions they had been using had proved to be unsatisfactory: “some platforms had outdated interfaces that were difficult to navigate, resulting in a steep learning curve for users, and we wasted time on getting familiar with the system.”

Specifically, what HMNC Brain Health wanted from their new provider was:

  • Advanced security features such as dynamic watermarks, two-factor authentication, and document encryption
  • A user-friendly interface that would be easy to learn and also impress would-be investors
  • Collaboration features such as task assignment, and an integrated Q&A to streamline a systematic approach
  • Excellent customer care 24/7 for all their projects

Solution

The decision to use iDeals was positively welcomed by their investors and team members. Shraddha was delighted with how intuitive the platform was for new users and how the VDR features allowed them to:

  • Set and amend permission levels to control what external users could do and see
  • Provide easy access for in-house teams to check shared documents
  • Run regular reports to keep tabs on what was happening 

“iDeals allowed us to tailor the data room interface and permissions according to our specific needs, ensuring that we could structure and present our documents effectively to different stakeholders and potential investors.”

The future

HMNC is currently focused on completing their first projects with iDeals, before moving on to further fundraising rounds in the coming months.

“We chose iDeals as our data room solution because it met all our specific criteria and requirements,” enthused Shraddha, and on top of that, the seamless interface and especially the excellent customer care made the whole experience absolutely effortless.

HMNC Brain Health teams are confident about relying on iDeals for their future projects, as the platform ensures “complete protection of our sensitive data!”

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