K2 Therapeutics, a Singapore-based biotechnology company, has raised $50 million in seed financing from MPM BioImpact, the U.S. investment firm that founded the company in 2024.

In a statement on Tuesday, K2 Therapeutics said the financing has supported expansion of its portfolio, which now includes eight therapeutic programs spanning multiple modalities. Notable ones are antibody-drug conjugates and T-cell engagers, at stages from pre-clinical to clinical.

K2 Therapeutics identifies drug candidates internationally and advances them through in-house development. The firm expects to expand the portfolio further through asset acquisition, capital deployment and development.

K2 also named Ying Huang as CEO. Huang was previously chief executive and a board member of Legend Biotech, where he oversaw the development and commercialization of cell therapies and the company’s growth to more than 3,000 employees. Before that he was head of biotechnology equity research at Bank of America Merrill Lynch.

“By combining global asset sourcing with experienced development leadership,” K2 can rapidly advance differentiated therapeutic candidates with the potential to address significant unmet medical needs, the new CEO said.

MPM BioImpact is a biotechnology investment firm that manages more than $3.5 billion in assets.

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