Aclaris Therapeutics Inc., of Wayne, Pa., signed a loan and security agreement with Silicon Valley Bank pursuant to which the company has borrowed $11 million. The financing extends the cash runway so Aclaris can pursue its recently refocused business strategy. Specifically, the loan with existing cash is sufficient to fund operations into the first quarter of 2022, Aclaris said.

Aspen Neuroscience Inc., of San Diego, closed its series A funding round of $70 million. Orbimed led the round with participation from Arch Venture Partners, Frazier Healthcare Partners, Domain Associates, Section 32 and Sam Altman. Aspen's lead product, ANPD-001, is undergoing IND-enabling studies for the treatment of sporadic forms of Parkinson's disease.

Bellerophon Therapeutics Inc., of Warren, N.J., said it closed its registered direct offering of 1.275 million shares priced at $12 apiece for gross proceeds of $15.3 million. Bellerophon intends to use the net proceeds for working capital, general corporate purposes, and other research and development efforts. H.C. Wainwright & Co. acted as exclusive placement agent.

Keros Therapeutics Inc., of Lexington, Mass., disclosed terms for its IPO. The firm plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Founded in 2015, the company plans to list on Nasdaq under the symbol KROS.

Phio Pharmaceuticals Corp., of Marlborough, Mass., signed definitive agreements with several institutional investors for the purchase and sale of about 1.7 million shares of Phio's common stock, at a purchase price of about $2.33 per share, for gross proceeds of about $4 million in a registered direct offering priced at-the-market under Nasdaq rules. The offering is expected to close on or about April 2.

Therapix Biosciences Ltd., of Tel Aviv, Israel, priced a public offering for the issuance of about 4.1 million units, each consisting of one prefunded warrant to purchase one American depositary share (ADS) and one series B warrant to purchase one ADS, at a purchase price of about 29 cents. The series B warrants will have an exercise price of 43 cents per ADS, will be exercisable upon issuance and will expire five years from the date of issuance. The offering is expected to result in gross proceeds to Therapix of about $1.25 million. Closing is to take place on April 3.

Vivus Inc., of Campbell, Calif., signed definitive agreements with several institutional and accredited investors for the purchase and sale of about 7.2 million shares of the company’s common stock, at a purchase price of $1.60 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about April 3. H.C. Wainwright & Co. is acting as the exclusive placement agent. The gross proceeds are expected to be $11.55 million, which will be used for working capital, general corporate purposes, R&D and satisfaction of corporate debts.

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