It claims their children died participating in a trend that circulated widely on TikTok in 2022, despite the site having rules around not showing or promoting dangerous content that could cause significant physical harm.
While Mr Derrington would not comment on the specifics of the ongoing case, he said of the parents: "I have young kids myself and I can only imagine how much they want to get answers and want to understand what's happened.
"We've had conversations with some of those parents already to try and help them in that."
He said the so-called "blackout challenge" predated TikTok, adding: "We have never found any evidence that the blackout challenge has been trending on the platform.
"Indeed since 2020 [we] have completely banned even being able to search for the words 'blackout challenge' or variants of it, to try and make sure that no-one is coming across that kind of content.
"We don't want anything like that on the platform and we know users don't want it either."
Mr Derrington noted TikTok has committed more than $2bn (£1.6bn) on moderating content uploaded to the platform this year, and has tens of thousands of human moderators around the world.
He also said the firm has launched an online safety hub, which provides information on how to stay safe as a user, which he said also facilitated conversations between parents and their teens.
Mr Derrington continued: "This is a really, really tragic situation but we are trying to make sure that we are constantly doing everything we can to make sure that people are safe on TikTok."