Redwood Pharma AB (publ) announced that two international companies have begun due diligence of the company's unique and revolutionary product against dry eyes - RP501. Both companies have signed nondisclosure agreements to access Redwood Pharma's virtual data room (VDR) to evaluate documentation prior to negotiations for potential commercial agreements. Virtual data rooms are online platforms that contain confidential information about assets of commercial interest.

Access to the data room is provided on a strictly confidential basis to potential partners for their evaluation of sensitive information including details of completed clinical studies and market research, intellectual property rights as well as discussions with regulatory authorities. Data rooms are crucial in an evaluation (due diligence) which in turn can lead to the signing of a commercial agreement.