[San Diego (U.S.) = E-Daily Reporter SONG YOUNG-DOO ] “To be honest, I was skeptical at first. I wondered if a treatment that involves directly implanting cells into the brain of each individual patient was even realistically possible. But after reviewing the 24-month data, my opinion completely changed.”

“TED-A9: I’m Convinced It’s Not Just a Good Technology, but a Global Asset”

Jeong In-ki, CEO of GID Partners, recalled his first encounter with TED-A9— S.Biomedics Co., Ltd.(304360) ’s cell therapy for Parkinson’s disease—during an interview with E-Daily’s pharmaceutical and biotech premium content platform, Pharm E-Daily, on the 24th (local time) at the BIO International Convention (BIO USA) in San Diego, U.S.

CEO Jeong In-ki is regarded as one of the leading global business development (BD) experts in the domestic pharmaceutical and biotech industry. While at HanmiPharm(128940), he was in charge of global BD and led major global licensing negotiations, including the technology export of a long-acting diabetes and obesity treatment to Sanofi and the technology export of a metabolic disease treatment to Janssen. This was the period when HanmiPharm garnered global attention by signing technology export agreements worth trillions of won with major global pharmaceutical companies.

Now, CEO Jeong oversees global business development (BD) at S.Biomedics Co., Ltd. with a stronger conviction in TED-A9 than anyone else. However, he wasn’t convinced from the start. He had doubts about whether a treatment involving the direct implantation of stem cell-derived dopamine neural progenitor cells into the human brain could achieve commercial success.

“When I first heard the explanation, I honestly doubted whether a treatment requiring brain surgery for each patient could really succeed in the market,” CEO Jeong said. “However, my perspective changed completely after reviewing global development cases and analyzing clinical data from human trials.”

CEO Jeong joined S.Biomedics Co., Ltd. in 2023. At the time, the company was working to strengthen its global business development capabilities, and CEO Jeong—who had experience with major technology exports at HanmiPharm—stepped in to collaborate.

“The company had excellent technology and data, but we needed to present them in a language that global pharmaceutical companies could understand,” he explained. “Once we began reinterpreting the human data according to global standards and crafting a compelling narrative, the response from overseas companies changed.”

In particular, the recently released 24-month follow-up data for TED-A9 further solidified his confidence. TED-A9 is a cell therapy that involves differentiating human embryonic stem cells into dopamine neuron precursors and transplanting them into the brains of Parkinson’s disease patients. It aims to provide regenerative therapy by replacing dopamine neurons that have been fundamentally lost.

The 24-month follow-up results showed that the MDS-UPDRS Part III (OFF) score in the high-dose group improved by an average of 18.5 points compared to baseline. This improvement was even greater than the 15.5-point improvement observed at the 12-month mark. The MDS-UPDRS Total (OFF) score also decreased by an average of 35 points. The Hoehn & Yahr scale, which indicates the stage of Parkinson’s disease progression, improved by an average of 1.7 stages. The SBR on FP-CIT PET imaging, which reflects dopamine neuronal function, increased by 20.9% at the 24-month mark. No serious treatment-related adverse events were reported.

CEO Jeong commented, “While a direct comparison with BlueRock is not appropriate, based on the 24-month long-term data, we are at a level where we can certainly discuss global competitiveness,” adding, “Above all, it is impressive that the efficacy was maintained or even improved over time.”

He placed particular significance on the improvement in the Hoehn and Yahr scale. “While BlueRock used the Hoehn and Yahr scale as a patient enrollment criterion, it did not disclose it as an endpoint,” he explained. “In contrast, TED-A9 confirmed an average improvement of 1.7 stages. This signifies not just a numerical change, but a potential shift in patients’ daily functioning.” He emphasized, “Untreated Parkinson’s disease patients generally continue to deteriorate over time. TED-A9 is highly significant in that it shows signs of reversing disease progression,” he emphasized.

A Shift in Atmosphere at BioUSA: “Big Pharma Is Reaching Out First”

CEO Jeong explained that the atmosphere at BioUSA meetings

has changed

markedly since the release of the 24-month data. “Whereas in the past, we were the ones presenting our technology, now global players actively engaged in the Parkinson’s disease business are reaching out to us first to review the data,” he said. “We’re seeing firsthand the heightened interest at this year’s BioUSA.”

There remains a significant unmet need in the Parkinson’s disease market. Existing treatments merely alleviate symptoms without altering the progression of the disease itself. Global pharmaceutical companies are also seeking new options. The biotech industry assesses that TED-A9 is significant because its 24-month data demonstrated the potential to reverse disease progression.

In particular, the acquisition of BlueRock Therapeutics—considered a key competitor—by Bayer is seen as a favorable opportunity. CEO Jeong remarked, “Since BlueRock has effectively become a Bayer asset, other global companies have no choice but to seek new alternatives,” adding, “I believe TED-A9 has risen to a position where it can be thoroughly considered as one such alternative.”

He also assessed that expectations regarding the potential for technology transfer have risen compared to before. “In addition to transferring all rights, licensing agreements on a country-by-country or regional basis are also entirely feasible,” he said. “In fact, as interest from global pharmaceutical companies has grown, we will be able to explore various negotiation structures,” he said. “The 24-month data is not merely a single clinical result but is viewed as objective evidence that can demonstrate TED-A9’s value at the global negotiation table. Our bargaining power in technology transfer negotiations could increase to a level that is difficult to compare with the past.”

In particular, the company is expected to receive a proper valuation in the second half of this year upon entering Phase 3 clinical trials in the U.S. CEO Jeong said, “What the U.S. Food and Drug Administration (FDA) requires is nothing extraordinary—it simply asks that production, quality, and clinical operations be aligned with global standards,” adding, “Since the company is methodically making the necessary preparations, we believe approval for the U.S. Phase 3 clinical trial is entirely feasible.”

He went on to emphasize, “Once the procedures with the FDA are finalized and our late-stage clinical strategy becomes clear, interest from global big pharma companies will grow even further,” adding, “We expect significant deals to materialize around the time of next year’s J.P. Morgan Healthcare Conference.”