Crowell & Moring Represents Third Rock Ventures in $108 Million Series C Financing for Terremoto Biosciences

Boston and San Francisco – April 15, 2026: Crowell & Moring represented investor Third Rock Ventures in the closing of a $108 million Series C financing round for Terremoto Biosciences, a biotechnology company developing highly targeted, small molecule medicines.  

Along with Third Rock, the financing included support from existing investors OrbiMed, Novo Holdings, and Cormorant Asset Management, LP, as well as from new investors RA Capital Management, Deep Track Capital, Osage University Partners (OUP), and BeOne Medicines. Proceeds from the financing will enable Terremoto to advance its selective AKT1 inhibitor programs through Phase 1 clinical development for patients with cancer and rare diseases such as hereditary hemorrhagic telangiectasia. 

The financing transaction was led by partner Kurt Machemer (Boston).