Novexel and Forest Laboratories Holdings entered into licensing agreement to develop, manufacture and commercialize Novexel’s intravenous beta-lactamase inhibitor, NXL104, in combination with Forest’s ceftraroline, an injectable broad-spectrum cephalosporin active against MRSA and multi-drug resistant Streptococcus pneumoniae. The total deal worths up to €150 M (US$217.8 M) to Novexel if specific milestones and sales targets are met.