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.

All-stock merger will create new company owned 75% by Adaptimmune’s shareholders. Grifols, Selagine to explore antibody approach to treating dry eye disease, and other recent deals.

The Australian company is steadily growing its photoprotective drug in adults with erythropoietic protoporphyria but also sees a big opportunity in the pigment loss disorder.

Opzelura, already approved for atopic dermatitis, gives Incyte a second indication for its topical JAK inhibitor. It is the first treatment approved for vitiligo.