Terremoto Biosciences raised $108 million in a Series C to develop small-molecule drugs targeting AKT, extending a covalent inhibitor strategy aimed at cancer and rare disease. The funding includes commitments from RA Capital Management, Deep Track Capital, Osage University Partners and BeOne Medicines, with prior backers OrbiMed, Third Rock Ventures, Novo Holdings and Cormorant Asset Management also participating. The company is running a Phase 1 program for TER-2013 in solid tumors with specific genetic alterations and expects TER-4480 to enter the clinic for hereditary hemorrhagic telangiectasia (HHT), where it says there are no approved therapies. Terremoto’s financing arrives as venture rounds have been getting larger for oncology and rare-disease developers, particularly those with a differentiated mechanism and an early clinical path. AKT inhibition remains an active competitive field following approvals such as AstraZeneca’s capivasertib and Roche’s earlier Phase 3 exposure for ipatasertib. Terremoto says its covalency technologies are intended to deliver longer and more selective effects with improved safety, setting the stage for further dose-finding and biomarker refinement as programs progress.