Banook, backed by Motion Equity, has acquired Fluidda

Banook Group has acquired Fluidda NV, marking a strategic expansion into advanced in-silico trials and respiratory disease modeling. Combining Banook’s expertise in cardiac safety and clinical data services with Fluidda’s AI-driven respiratory analytics creates a powerful, integrated platform. This deal strengthens Banook’s position in the contract research organization (CRO) sector, offering pharmaceutical clients broader, technology-enabled solutions to drive drug development and reduce costs.

Fluidda is a specialized medical technology and contract research organization (CRO) dedicated to respiratory diseases in pulmonology, as well as drug and device development in this field. Its core offering is Functional Respiratory Imaging (FRI), a proprietary imaging-based platform that combines high-resolution CT scans and other imaging modalities with computational fluid dynamics (CFD) and advanced image processing to produce detailed, patient-specific 3D models of lung anatomy and function. These models provide insights including airway geometry, airway and lung volumes, airway wall and vascular structures, airflow, aerosol deposition and ventilation and perfusion patterns.

Banook Group, founded in 1999 and headquartered in Nancy, France, is a leading provider of cardiac safety and technology services for clinical trials. With over 25 years of experience, Banook specializes in the centralization, analysis and management of cardiac data, such as electrocardiograms (ECGs) and medical imaging, supporting pharmaceutical companies, biotech firms and clinical research organizations worldwide. The company has steadily expanded its expertise and service portfolio, notably in 2024 through the strategic acquisitions of Keosys, a medical imaging specialist, and B.Research, an electronic clinical outcomes assessment (eCOA) and electronic patient-reported outcomes (ePRO) platform. These acquisitions have positioned Banook as a comprehensive technology partner for clinical trials, covering imaging, patient data capture and biostatistics across various therapeutic areas and clinical phases. Since October 2023, Banook has been majority-backed by Motion Equity Partners, alongside its management team and historic investor Turenne Santé. This partnership aims to accelerate Banook’s international growth, expand its service offering and drive further innovation in clinical trial technologies. Today, Banook operates globally with offices in Europe, North America and the Asia-Pacific region, employing around 120 experts following its recent acquisitions. The company is committed to delivering high-quality, innovative and flexible solutions tailored to the evolving needs of clinical research, establishing itself as a key player in the global clinical trials ecosystem.

Oaklins’ team in Austria originated the mandate and prepared the teaser, confidential information memorandum (CIM) and financial plan. They created the short list and long list of European buyers, supported by Oaklins DeSilva+Phillips, based in New York, with materials for outreach to US investors, identified the successful European buyer and led deal negotiations, including due diligence coordination and reporting. The team also set up the sales pipeline to demonstrate Fluidda’s commercial traction, managed the data room, coordinated all service providers and the equity bridge, conducted reverse due diligence on the buyer and supported the legal negotiations, including transaction document review, to finalize the transaction.