Latest / The BioHub - by Avetix / Episode 185 - Ed Ahn - Medipost INC

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Episode 185 - Ed Ahn - Medipost INC · The BioHub - by Avetix

• 0:06
  So welcome back to another episode of the Biohub.
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  Today we're delighted to welcome on Ed Ann, who's the CEO of
• 0:11
  Medic Posting Corporation, who are a biotech company pioneering
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  allogeneic stem cell therapies derived derived from umbilical
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  cord blood. Ed has spent his career at the
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  intersection of science, venture capital, and company building.
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  At Mediposting Corporation, Ed is leading the company's efforts
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  to develop and commercialize off the shelf cell therapies.
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  So look Ed, it's an absolute pleasure to have you on.
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  Appreciate you making the time to help us out with this.
• 0:35
  How are you? Very good, Tom, and thank you
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  very much for the invitation to speak with with you today on
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  your podcast. Look, it's a pleasure, so let's
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  just start off with a little bit about your journey through the
• 0:45
  field and how you got to where you are today.
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  So you've built your career across investing, advising and
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  operating within the life sciences ecosystem.
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  Just take us back to the beginning.
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  What originally drew you into the biotech and regenerative
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  medicine space? And were there any particular
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  experiences or people early in your career that shaped the way
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  that you think about the potential of this field today?
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  So influences early on, I would have to say that that it it
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  would largely have to be my family, you know, during those
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  for formative years in terms of, of direction and and guidance,
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  right. So one of the things that I was
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  raised with is that, you know, you should make your life
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  meaningful, do something with your hands and and to leave the
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  world a little bit better than then you entered it.
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  And so education wise that that put me in a direction toward
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  engineering and science and then a career path toward medicine
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  and healthcare as, as as well. So I've been in the industry for
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  a long time. So I, I've, I've seen the
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  evolution and revolution that that is now, you know,
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  regenerative medicine largely driven by much of what we see in
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  synthetic biology, like a CRISPR gene editing, gene manipulation
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  as it stands at, at at its forefront.
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  But at the same time, you know, some of the ideas that I saw and
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  investigate early on during Graduate School are, are, are,
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  are coming back, but in a different way, You know, so, so
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  some things that we played with with graduate students were,
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  were encapsulating, you know, animal islet cells to express
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  insulin in the human body, right?
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  So that, that, that was kind of the concept back then to treat
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  diabetes, but the, the current concept right now is to now has
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  evolved into developing induced poriopotent stem cells and
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  turning them into islet cells that will not be rejected by the
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  body, but secrete the insulin. And that now, now those are
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  getting closer to, to approval. So it's kind of fascinating that
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  some of the ideas are the same, but the tools and the way we go
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  about approaching them are different.
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  Yeah, amazing. And for people listening who may
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  not be deeply familiar with regenerative medicine, could you
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  just give us a high level overview of of Medipost, like
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  what company does the problem is trying to solve and the role you
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  see the company potentially playing in the future of of
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  healthcare as well? Right.
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  So, so our our history of Medipost Inc which is AUS
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  company goes back to our parent company located headquartered in
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  Korea a little over 20 years ago.
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  The company was founded as a cord blood bank to bank cord
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  bloods after families have given birth to their children.
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  And, and starting with that really as a starting source of
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  regenerative cells, we would ask families if they were not
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  interested in banking, whether or not we could use the cord
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  blood for research purposes. So, so that led to the
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  transition from cord blood banking into developing the
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  therapies and the therapy said we focused on just because we
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  had this very abundant supply of cord blood was cord blood
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  derived mesentchymal stem cells. And what we're really focused on
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  using that as our the basis of our science and therapy
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  development is to leverage those stem cells to really manage
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  inflammation driven diseases. And it, it's just so happens
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  that many of the inflammation driven diseases are associated
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  with aging. Chronic inflammation is kind of
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  one of those things that drive drive the, the, the aging
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  process. And one of the first
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  applications that we had the most success in in Korea was the
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  this clinical trial and the eventual approval of the use of
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  umbilical cord derived mesenchymal stem cells to treat
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  the symptomatic cartilage defects associated with knee
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  osteoarthritis that has been commercialized in Korea.
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  Now we are on the the journey of taking that that science and
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  that understanding and pursuing global expansion.
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  We just finished a phase three clinical trial in Japan and now
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  are initiating our phase three clinical trial in the United
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  States. Amazing.
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  Sounds exciting and I think I mean one of the things that
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  makes many posting unique is that it's lead therapy,
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  investigational stem stem cell therapy has already been
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  approved and used in patients in South Korea for over a decade.
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  Can you just walk us through investigate investigational stem
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  cell therapy and how it what it is, how it works biologically
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  and why it represents such an important milestone in the field
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  of stem cell based therapies? So, so with regards to the the
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  product in Korea, it was the first allogeneic stem cell
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  therapy approved in in the world.
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  So that, that is one of the big accomplishments of the entire
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  medipose company. What we're trying to do leverage
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  and the mechanisms of action to treat the symptomatic cartilage
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  defects in the osteoarthritis is really threefold in you know
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  previously I said inflammation is a big driver of the aging
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  process. Inflammation is also a big
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  driver of what what is happening in neostar arthritis.
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  So one of the primary mechanisms of actions of mesenteric stem
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  cells is for them to secrete a lot of cytokines that exert an
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  anti-inflammatory effect. So you, you don't end up with
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  this chronic inflammatory effect that, that induces a lot of
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  secondary cascades that are not really good for the body that
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  sometimes are associated with a breakdown of tissue that, that,
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  that, that occur as a result. So that goes to our secondary
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  mechanism of action, which is, you know, anti catabolic.
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  So we slowed down the breakdown of of the cartilage and then
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  finally by being anti-inflammatory and then by
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  creating anti catabolic environment that that creates
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  the third mechanism of action to occur, which is to be anabolic,
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  which allows the tissue so which allows the cartilage to to heal.
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  Amazing. And osteoarthritis, it affects
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  hundreds of millions of people globally and it's often
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  considered one of the most significant unmet needs in
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  muscoskeletal medicine. From your perspective, how large
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  do you think the opportunity is? Is the opportunity for
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  regenerative therapies in this space?
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  And how do you see them integrating with existing
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  treatments like biologic drugs or surgery?
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  So, so for the osteoarthritis, diabetes, rheumatoid arthritis
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  are some of the most common afflictions that, that, that
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  affect people in, in, in the world.
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  It's something that many people met, many people will, will,
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  will suffer from, you know, rheumatoid arthritis and
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  diabetes. I think there are, there's some
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  great therapies out there to manage those diseases.
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  Osteoarthritis because it's a combination of, you know,
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  structure and disease a little bit harder to manage, right.
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  So for, for most patients, either you deal with pain on one
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  side and you bear with it and you end up with a knee
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  replacement at, at the very end if the disease progresses far
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  enough. And the, the, the mission that
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  we have as a company for our, our particular product is that,
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  you know, we don't think that there's a need for, for the
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  right patient, that we don't think that, that there's a need
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  for a total knee replacement. And, and there may be the, the
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  opportunity where if you're able to be diagnosed at the right
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  time and if you fit the inclusion, exclusion criteria of
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  the study, that we may be able to preserve your need for a
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  really, really long time. You know, those, those things
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  are we need to prove and work. We're gathering the data for
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  that right now. But those are are the the the
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  big objectives that we really want to demonstrate in the value
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  that we want to provide to to all the patients.
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  Amazing. And looking ahead and I guess
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  just before that, you've obviously been through a recent
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  fundraising round, so congratulations on that as well.
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  But like looking ahead, the next couple of years seem like a
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  particularly important period for the company.
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  What are some of the the key milestones or inflect points for
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  medi posting over the next 12 to 24 months that you and your team
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  are most focused on? So.
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  So since we're in the US and we're, we're very focused on
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  completing this phase three clinical study as as quickly as
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  possible. And, and then what you'll see
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  out of Japan is that now that they are have completed their
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  phase three clinical study, they're they're very focused in
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  on getting ready to submit their BLA to PMDA in Japan and then
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  getting ready for commercial launch those.
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  So those two things are, are the big activities that you'll see
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  out of our our company in Japan and the US So there's a lot of
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  big things happening. So it's not very often where one
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  country you're trying to get approval at launch, another
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  country you're trying to complete a big phase three
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  study. So that's a very, very exciting
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  time for us. And like a big part of the road
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  map is advancing into late stage clinical development in the US
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  would you some of the major challenges and opportunities
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  involved in bringing a therapy that's already approved in in
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  one market into the US regulatory and clinical
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  environment? So a lot of this is a, you know,
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  localization for the regulatory quality market access
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  reimbursement regime in, in, in the United States.
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  You know, the the US represents with regard to healthcare
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  spending, one of the largest markets, you know, in, in the
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  world. And, and to to be able to
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  navigate through all the different stakeholders like you
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  need to, you know, work work through is, you know, is a
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  complex exercise. And you know, it used to be a
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  long time ago FDA approval meant commercial success, right?
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  And that's really not, no no longer the case.
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  So FDAFFDA approval now is table stakes, but you, you we need to
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  be able to put a good case for market access, payer coverage,
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  reimbursement support, being able to educate and support our
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  clinicians on on the value of our investigational product as
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  it changes over and over into commercial.
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  So that there has been a lot of investment by the company in in
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  preparing for that hiring AUS team to lead those efforts.
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  But also the the company itself is very, very science driven.
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  So we've been focusing on a lot of, of clinical data to support
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  our, our efforts. So by the time that we we launch
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  our product in the United States, we will have you know,
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  really three phase three studies done, 1 from 1 from Korea, one
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  from Japan, you know, one from the US, several no long term
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  follow up, over 35,000 patients treated in Korea, no real world
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  evidence. I mean, there's a lot of work
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  that we're, we're doing to really make sure that we
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  substantiate everything that we're doing and, and both for
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  FDA, but also for, you know, pair coverage and reimbursement.
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  And yeah, many posting obviously you've mentioned has it's roots
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  in South Korea, but at the moment is increasingly building
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  a presence in the US as well. How do you think about operating
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  a company that spans 22 very different scientific business
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  ecosystems? Yeah.
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  How do you manage those working in?
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  Those two it's, you know, it's, it's interesting.
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  I mean, this I have, I have, I've had a few opportunities
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  working with multinational no, no companies.
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  And, and it's very, very, very interesting and interesting and
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  challenging to get everything kind of align and, and, and
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  working smoothly. And, and it's definitely that
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  requires the, the dedication and the hard work of all the parties
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  involved to and commitment to get all, all of this working
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  properly. And the US initiative would not
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  be where where it is today without all the dedication and
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  support from everyone at headquarters.
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  Yeah. And when you look at the two
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  geographic, geographic locations from a cultural and operational
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  perspective, what are some of the big differences you've
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  noticed between the Korean and US biotech environments?
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  And how do you bring those different perspectives together
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  within one organization? I guess you're also looking at
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  different time zones as well that you're trying to manage as
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  well. But yeah, how do you balance
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  that from a cultural and operational perspective?
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  So there there is. I mean, you know, as you point
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  out there, there are, there are, there are differences, right?
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  So no, no, Metapost itself isn't a giant conglomerate.
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  So, so it's a very well known cell therapy company in, in
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  Korea, but you know, it, it's still, it would still be
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  considered a small to medium size, you know, enterprise,
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  right? And, and, and, and so there's a
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  lot of of, of, you know, clear communication that has to occur,
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  mutual respect for what everyone brings to, to the table for, for
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  the process and the development to, to, to, to, to occur, right.
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  So that the people in the US have, let's say geographic
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  experience in, in let's say, running the clinical trial,
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  manufacturing a product for, for clinical, for clinical use or
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  commercial use, interacting with, interacting with, with F
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  you know, FDA, right. And, and then where, whereas
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  the, the, the team in Korea has this depth of experience that
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  we're trying to institutionalized in, in the,
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  the manufacturing experience, how to manufacture, how to
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  manage the manufacturing, the scientific experience when
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  interpreting all, all of the data and the basic science that,
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  that will guide us through all, all the process.
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  So it's just really trying to recognize, you know, where are
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  our strengths, where are our weaknesses, and then making sure
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  that you know, their strengths support our our weaknesses and
• 17:48
  our strengths support theirs. Yeah, Yeah.
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  No, I think that's a very good way of looking at it.
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  And then like when you look look out of the next decade, what
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  developments in regenerative medicine or cell therapy are you
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  most excited about? And where do you think the
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  biggest breakthroughs could come from as well?
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  So as as I no, for for me, you know, the part, part of it is
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  that there's all this great science that, that, that, that
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  that is happening. You know, new cell therapies,
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  new ways of, of manipulating cells or delivering cells, new
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  ways of, of, of, of delivering genetic components in into the
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  body, viral, non viral, increasing the package size,
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  packet size. So you can deliver a lot, lot
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  larger payloads for for example. And, and some of the bigger
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  things right now that that I'm looking forward to is, you know,
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  for example, a transition away from, we know viral vectors as a
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  gene delivery mechanism just to avoid neutralizing anybody.
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  So you can everyone, you know, we can deliver gene, gene
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  delivery without worrying about that.
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  So it's not a one time, you know, one time treatment.
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  And then overall we're, we're, my hope is that we're able to
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  bend the cost curve on a lot of these different things, right.
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  And, and then the access for all of this genetic medicine,
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  cellular medicine, regenerative medicine becomes more easily
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  available and that you're able to apply that to more
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  commonplace, you know, diseases. So right now is really
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  restricted to, to, to fairly rare diseases.
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  And what we're trying to do with Metapost is apply to, you know,
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  osteoarthritis, which is fairly common.
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  And what one of the ways that we're trying to do that is to
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  bend the cost curve. So that we can make it
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  available. Yeah, amazing.
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  And to finish, and this is a question that we would always
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  finish with as well, but if you could host a dinner with free
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  people, so people from the present or the past who have
• 20:20
  influenced science, medicine or leadership, who would you like
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  to invite for dinner and, and why?
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  So that's thinking about this for a while and thinking who?
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  Who would I, who would I want at, at, at, at, at that dinner?
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  And you know, who, what's been really, you know, really, really
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  influential, you know, in, in my life.
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  So the first one I would say is going to be Newton, Isaac
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  Newton, and primarily because he invented calculus.
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  And that actually has figured prominently prominently figure
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  prominent that that is figure prominently in my life just
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  because of my my my education and and then other scientist
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  would have been no Francis Crick from Watson and Crick from the
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  the people who who who first identified DNA primarily for
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  central dogma theory about the connection between DNARNA and
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  then protein. And we know we know without that
• 21:41
  that there there would be no regenerative medicine, no
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  synthetic biology, not today. And the third one, what was
• 21:53
  actually? You know a Casa, right And one
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  was I kind of remember his name was John Stuart Mill, right?
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  English philosopher talking about utilitarianism and trying
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  to trying to do the, the maximum good with the resources that
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  that you have, which kind of goes into this healthcare, you
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  know, thinking about healthcare. And, and then the other part
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  was, was out of fourth was, you know, just because I'm in this
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  just juxtaposition between a Korean company and an American
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  company is, is an Admiral by the name of Yi Sunshine.
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  And he, I think when, when was he?
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  He lived in, I think in the 16th century.
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  And what he was famous for was the development of an ironclad
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  battleship like the turtle ships.
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  And what what he his famous accomplishment was, was warding
• 23:17
  off an invasion of from Japan was like 13, I think 13 ships
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  against 100. But at the same time you're
• 23:25
  thinking about, as I think about it, a business leader to get the
• 23:29
  battleships there. He had to be thinking about the
• 23:31
  years in advance to make everything and to be at the
• 23:34
  right place at the right time, the right strategy with the
• 23:37
  right people, even though he's under resourced and out out man
• 23:43
  to defeat a larger opponent. But to be able to get to that
• 23:47
  point and to achieve victory had to be thinking years in advance.
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  So it's so that that for me was was kind of thinking about that,
• 23:56
  you know, quite fascinating. And, and again, that like that
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  kind of reflects, you know, what we're trying to do where, where
• 24:04
  in therapy development, you know, things kind of moves not,
• 24:07
  not quickly. And you were laying down these
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  plans, you know, years in advance and trying to deal with
• 24:15
  risk and to accomplish objectives, not knowing how what
• 24:19
  the outcome will, what outcome will happen until, until it
• 24:24
  happens much later. Yeah, we'll look some amazing
• 24:30
  answers there. And thanks again for coming on
• 24:32
  and helping us out with this. I'm looking forward to following
• 24:34
  the next inflection points for you guys at Medi Post Inc.
• 24:37
  It sounds like a super exciting time.
• 24:39
  And yeah, congratulations again on the recent fundraise and
• 24:42
  yeah, it was a pleasure. So thanks, Ed.
• 24:44
  Thank you very much for your time.