Cleon Capital and Columbus Venture Partners-backed Insud Pharma, a company providing pharmaceutical solutions, agreed to acquire Algenex, a Spanish biotech company. Financial terms were not disclosed. “The closing of the sale to Insud Pharma allows us to value for the shareholder all the work done in recent years, together with the founder and the management team, and to look back and feel proud to have accompanied the company on this successful journey. From now on our journey continues with the new company Cocoon Bioscience, which will develop the biocomponents business with the support of Cleon Capital and Columbus Venture Partners,” Nicola Zambon, Cleon Capital Managing Partner.