Investment to Drive CRO’s Development in Europe, North America and Asia

Clinical research organisation Banook Group has announced new funding from Turenne Santé, via the FPCI Capital Santé 2. The transaction places the investor, along with Banook founder Pascal Voiriot and senior management representatives, as the driving force behind plans for further development in Europe, North America and Asia, with the company aiming for ISO certification by the beginning of 2021. Euro Capital, based in Metz, advised by Turenne Group and the ILP funds, based in Nancy, have also invested.

Founded in 1999 the Banook Group works with pharmaceutical and biotech companies, CROs, non-profit organisations and academic centres involved in phase 1-3 clinical trials, prior to new medication approval. It helps companies that develop new ECG tracing recording devices to validate their algorithm. 

According to the group’s estimates, the cardiac safety and imaging segment represented around $140 million (€123M) in 2017. It is estimated that the global CRO market should represent nearly $44 billion (€39bn) in 2021.

Pascal Voiriot and Alexandre Durand-Salmon, respectively president and CEO of the Banook Group, said: “This operation is an important step in the acceleration of our development. The Banook Group places great importance in the improvement of the quality of life of millions of patients throughout the world. This is reflected in the company culture and our commitment to bringing science closer to people. We are excited to embark on this ambitious journey with our new partners.”