Genesis Medical's Wuxi Base Officially Launched as Provincial Key Project Accelerates Completion
On November 13, the Jieshi Medical Wuxi Base, located within the Wuxi Mashan National Life Science Park, was officially inaugurated. Attendees at the inauguration ceremony included Zhao Jianjun, Mayor of Wuxi; Academicians of the Chinese Academy of Sciences Ge Junbo and Teng Gaojun; Wang Yue, Executive Director of the China Drug Regulatory Research Association; Wang Xin, Chairman and CEO of Jieshi Medical Technology Group; and Zhou Wendong and Chen Shoubin, leaders from the Wuxi municipal and district governments.
Prior to the inauguration ceremony, Jianshi Medical, in collaboration with Binhu District of Wuxi, co-hosted the “2022 Yangtze River Delta High-End Medical Device Innovation and Development Forum.” Academicians Ge Junbo and Teng Gaojun delivered keynote speeches, while numerous expert physicians and investors gathered to engage in in-depth discussions on the theme of “Integration of Medicine and Engineering, Leading Innovation.”
Academician Ge Junbo of the Chinese Academy of Sciences Delivers Keynote Address
Academician of the Chinese Academy of Sciences, Teng Gaojun, Delivers Keynote Speech
The foundation stone for the Jianshi Wuxi Base was laid in November 2020. Listed as a major industrial project in Jiangsu Province for both 2021 and 2022, the project involves a total investment of RMB 5 billion and covers an area of approximately 203 mu. The first phase, with an investment of RMB 1.5 billion, comprises three main structures: two R&D and production buildings and one innovation center building. It took only 22 months from the groundbreaking ceremony and commencement of construction to trial production.
Jianshi Medical Wuxi Base Phase I Project
Among them, the R&D and production building commenced trial operations in September this year, primarily focusing on the research, development, and manufacturing of high-value medical devices for minimally invasive surgery and vascular intervention (including neurointerventional, cardiac interventional, and peripheral interventional procedures). It is scheduled to officially enter full-scale production in the first half of 2023, with an anticipated annual output value exceeding RMB 10 billion within three to five years after commencing production.
The Innovation Center is equipped with advanced minimally invasive surgical laboratories and interventional procedure laboratories. By closely replicating the environment of hospital operating rooms, it provides cutting-edge clinical training for medical professionals in China, facilitating the transition of high-end medical devices from “manufacturable” to “clinically applicable.” According to Jian Shi, the new center can meet the training needs for various procedures, including minimally invasive surgery, vascular interventions, and heart valve replacements, with an estimated annual training capacity of over 7,000 participants.
Sun Haidong, Secretary of the Binhu District Committee of the Communist Party of China in Wuxi, delivered a speech at the inauguration ceremony. He stated, “The official launch of Jianshi Wuxi is not only a milestone for the company’s future development but will also become an important industrial landmark in the life and health sector of Binhu District.”
“The Wuxi base is a critical pillar of Jianshi’s development strategy. Leveraging this facility, we will accelerate innovation and create product differentiation, while utilizing Wuxi’s manufacturing and quality management capabilities to export Jianshi’s ‘Made in China’ products to emerging markets worldwide. In addition, we will introduce cutting-edge international products and localize their mass production in Wuxi, thereby promoting the adoption of new technologies and products within China,” said Wang Xin, Chairman and CEO of Jianshi Medical Technology Group.
Wang Xin, Chairman and CEO of Jianshi Medical Technology Group
According to Jian Shi, its independently developed star product for peripheral intervention, the "Paclitaxel-Coated Chocolate Balloon," received certification from the U.S. Food and Drug Administration (FDA) last week. All imported products in its neurointerventional business achieved localized production in 2022. Additionally, the company has made breakthroughs in cardiac intervention products: in May this year, the "Intravascular Lithotripsy Series Products," introduced through a joint venture with the U.S.-listed company Shockwave Medical, were approved for market launch by the National Medical Products Administration (NMPA). This marks the first approval of this type of medical device in China. Going forward, these products, along with surgical products such as sutures, trocars, and fully articulating laparoscopic handheld robotic arms, will be manufactured and undergo iterative R&D at the Wuxi base.