Private Company Edition: After just seven venture capital rounds of $100m or more in January and February, five have been announced already in March, including a $200m series A round for Cargo Therapeutics, Chroma Medicine’s $135m series B financing and $112m for Noema’s series B.

Akorn is facing questions after suddenly shutting down its operations and terminating its employees, with a chapter 7 bankruptcy filing on the cards. Answers are being sought over why the company did not provide advance warnings to employees given the precarious state of its finances.

Akorn agrees with DoJ to pay $7.9m to settle allegations it deliberately sold three as Rx three ingredients moved to OTC. Mislabeling led Medicare Part D to pay for the drugs for around a year despite the products not being eligible for coverage. 

Hydralyte line has 90% share in Australia’s hydration market and accounted for a large share of firm’s overall sales growth in its latest quarter as 28.9% international sales growth to $34.5m offset flat North American results at $242.4m.