Private Company Edition: After its acquisition by an investor earlier this year, NGM Bio has raised a $122m series A round, adding to a recent surge in large venture capital financings. Also, Vanqua Bio disclosed $45m in new funding and Renalys completed a $38.4m series A.

Restructuring Edition: Kronos restructured and cut 19% of its workforce in November and now will cut 21% of its remaining jobs. Also, Gritstone cut 40% of its workforce after missing out on an expected external funding payment and Kineta implemented a 64% workforce reduction.

The US firm’s Syfovre for geographic atrophy due to age-related macular degeneration was linked with a handful of cases of occlusive retinal vasculitis, according to a letter published by a top retinal society, but most analysts believe there is a reasonable explanation.

Public Company Edition: ImmunoGen received the first $75m under a $175m term loan, while Protagonist raised $100m in a follow-on offering, but companies with bankruptcy filings and job cuts outpaced those accessing new capital by a wide margin in late March and early April.