Inclusion Criteria for Healthy Participants:
- Healthy male or female participants aged between18 and 45 inclusive
- All participants must agree to not fall pregnant and voluntarily use highly effective double method contraception during the study for at least 180 days after the last dose; female participants must have a negative pregnancy test prior to dosing and must not be breastfeeding
Exclusion Criteriafor Healthy Participants:
1.With any other disease or medical condition of clinical significance (e.g., past medical history of chronic hepatic, renal, cardiovascular, neurological/psychiatric, gastrointestinal, respiratory, urological, endocrinological, or other systemic diseases, etc.) as assessed by the investigator.
Inclusion Criteria for TED Participants:
- Male or female participants aged between 18 and 70 inclusive
- Participants with moderate-to-severe (has an appreciable impact on daily life and requires intervention, but is not sight-threatening) TED
- Normal thyroid function, or only mild hyperthyroidism or hypothyroidism (defined as screening free triiodothyronine [FT3] and free thyroxine [FT4] levels < 50% above or below the normal limits).
Exclusion Criteria for TED Participants:
- Decreased best corrected visual acuity of the study eye due to optic neuropathy within 6 months prior to the first dose
- Corneal abnormalities in study eye with no relief from treatment, as evaluated by the investigator
- A reduction of ≥2 points in the CAS value or a reduction of ≥2 mm in proptosis in the study eye from the screening assessment period to study baseline period
- Presence of other ocular conditions that, in the judgement of the investigator, may affect the evaluation of the study results
- Presence of poorly controlled diabetes mellitus
- The current presence of other uncontrolled clinical diseases or conditions
- Abnormalities in any of the following laboratory examinations during the screening phase
- Poorly controlled hypertension
- With past medical histories of major surgery and/or trauma within 1 month prior to the first dose
- With past medical histories of severe allergies, histories of severe drug allergies, known or suspected allergy to any component of this investigational product
- Vaccination with live or live attenuated vaccine within 1 month prior to the first dose or expected during the study
- Participation in a clinical study of any drug or device within 3 months prior to the first dose and have used the investigational product or have been treated with the device
- Pregnant, lactating females; or participants of childbearing potential who are unwilling to use effective contraception during the study and within 180 days after the last dose
- Other conditions evaluated by the investigator to be unsuitable for enrolment