Terremoto Biosciences, a clinical-stage biotechnology company based in South San Francisco, has closed a USD 108 million Series C financing round to advance its selective AKT1 inhibitor programs in oncology and rare disease.
The round was joined by new investors RA Capital Management, Deep Track Capital, Osage University Partners, and BeOne Medicines, with existing backers OrbiMed, Third Rock Ventures, Novo Holdings, and Cormorant Asset Management also participating. The company said proceeds will be used to advance its lead programs through Phase I clinical development. The Series C brings Terremoto's total disclosed financing to approximately USD 358 million, following a USD 75 million Series A at launch in May 2022 and a USD 175 million Series B in November 2023. OrbiMed and Third Rock Ventures have participated in all three rounds.
The participation of BeOne Medicines — the oncology-focused company formerly known as BeiGene — as a new strategic investor is notable, though no formal licensing or co-development agreement between the two companies has been publicly disclosed.
Terremoto's pipeline centers on two named candidates. TER-2013, the lead oncology asset, is in Phase I development for solid tumors harboring genetic alterations in PIK3CA, AKT, or PTEN — alterations present in a substantial proportion of cancers, including more than half of patients with hormone receptor-positive breast cancer. The second program, TER-4480, targets hereditary hemorrhagic telangiectasia (HHT), a rare inherited bleeding disorder characterized by abnormal blood vessel formation for which no approved therapies currently exist. TER-4480 is expected to enter the clinic later in 2026.
The scientific premise underlying both programs is isoform selectivity within the AKT kinase family. AKT exists as three structurally related isoforms — AKT1, AKT2, and AKT3 — with distinct biological roles. Preclinical studies have identified AKT1 as the predominant driver of tumor cell proliferation and survival in PIK3CA- and PTEN-altered cancers, while AKT2 is primarily linked to glucose homeostasis. Pan-AKT inhibitors such as capivasertib and ipatasertib inhibit all three isoforms and have shown clinical activity, but their use is associated with hyperglycemia and rash — adverse effects attributed largely to AKT2 inhibition — that constrain dosing and limit durable responses. Terremoto's medicinal chemistry approach is designed to achieve AKT1 inhibition while sparing AKT2, with the goal of widening the therapeutic window. The same selectivity rationale applies to HHT, where AKT1 signaling has been implicated in the abnormal vascular biology that drives the disease.
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