By LI Linxu

A specialized fund of 10 billion RMB for the life and health industry has been established in Wuhan's East Lake Science City to support pharmaceutical companies in listing domestically or overseas, as part of a series of recently announced measures.

New drug R&D enterprises will gather in East Lake Science City. (PHOTO: Wuhan East Lake High-tech Development Zone)

The initiative introduces around 20 policies aimed at cultivating breakthrough new drugs, enhancing innovation capacity, boosting investment, and optimizing the industrial ecosystem for new medicine development.

To promote new drug innovation, a partner funding model has been adopted, advancing financial support and sharing R&D risks. For clinical trials of Class I new drugs, annual funding can reach up to 20 million RMB, with cumulative support capped at 100 million RMB per project.

An additional 100 million RMB will be allocated to attract leading scientists and high-end talent through a dedicated talent exchange program.

By 2030, East Lake Science City aims to achieve over 100 billion RMB in pharmaceutical output value, introduce 30 top academicians and experts, and foster 20 listed pharmaceutical enterprises.

Editor | SONG Ziyan

Supervisor | TIAN Xueke