Representatives of medical enterprises sign their names on agreements. [Photo/WeChat account of Optics Valley of China]

The Optics Valley Innovative Medicine Industrial Base was launched on May 8 in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), with its development master plan and relevant policy measures rolled out simultaneously at the unveiling ceremony.

The event was attended by higher-ups of the Wuhan government and addressed by Liu Jie, secretary of the working committee of the valley, and Zhang Yongqiang, director of the valley's administrative committee.

More than 60 leading medicine researchers and representatives from related enterprises and supporting service companies participated in the ceremony. The research team of Shu Hongbing, an academician from Wuhan University, signed a contract with the Wuhan Institute of Biotechnology to found a cell and genetic treatment technological innovation center. Medical firms, including Humanwell Healthcare Group Co and Wuhan Healthgen Biotechnology Co, agreed to move into the new base.

The global R&D headquarters of Humanwell Healthcare Group Co are based in the Optics Valley of China. [Photo/WeChat account of Optics Valley of China]

The new base will focus on the cultivation of new medicine, regional innovative capabilities, the upgrading of public service systems, the echelon formation of enterprises, and the optimization of industrial eco-systems.

By 2025, the innovative medicine base is expected to boast fast technology transfers and full-fledged supply chains. By 2030, it hopes to pioneer medical research in the Optics Valley sci-tech corridor and regional high-tech development.

As a top priority of the biomedicine industry, developing innovative medicine has been a global effort and has brought about unprecedented opportunities for the industry. The life and health sector has risen to become one of two dominant industries in OVC, ranking highly among the nation's high-tech development zones and first in Central China.

By the end of 2021, the sector had accumulated more than 3,000 medical business operators, including 108 above a designated size, and six listed companies.