The Wuhan investment project signing ceremony for the fourth quarter of this year is held on Nov 29. [Photo/WeChat account of Optics Valley of China]

The Wuhan investment project signing ceremony for the fourth quarter of this year took place on Nov 29.

The East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) inked nine key projects spanning smart terminals, biomedicine, sci-tech finance, and digital economy, with a total investment of 40.7 billion yuan ($5.67 billion).

Hanx Biopharmaceutical Co's gene engineering monoclonal antibody drug research and production base project is one of the nine. It is expected to be located in Biolake of the valley, with plans to establish the FlexiBodyTM biologics discovery and development center, focusing on the development of the next-generation immunotherapy and targeting specific unmet medical needs.

The company has more than 10 research and development pipelines, of which three have entered phase I and II clinical trials, and six are in the preclinical stage. After the base is completed, it is expected to have an annual output value of over 600 million yuan while providing more than 300 high-tech positions.

From January to November this year, the total contract volume of OVC's signed industrial projects stood at 211.1 billion yuan, ranking it first in Wuhan.

Among them, six projects were valued at over 10 billion yuan, and four over 5 billion yuan, fulfilling OVC's yearly annual investment target.