Forrest Labs Buys Cerexa for $480 Million

Forest Laboratories Inc. (NYSE: FRX) has agreed to acquire Cerexa Inc., an Alameda, Calif.-based developer of injectable antibiotics, for total consideration of $480 million. Cerexa raised a $50 million VC round in August 2005 from firms like CDIB BioScience Ventures, Canaan Partners, Domain Associates, EGS Healthcare Capital Partners, Frazier Healthcare Ventures, Montreaux Equity Parnters, New Leaf Venture Partners, OrbiMed Advisors and Pappas Ventures.