(Yicai) Oct. 16 -- A hospital of Chinese pharmaceutical firm Chimin Health Management located in the China (Hainan) Pilot Free Trade Zone will secure exclusive rights to use the cell therapy technologies developed by Japan’s Oda Hospital in the Chinese mainland.

Chimin Health and Oda Hospital signed a 10-year strategic cooperation agreement yesterday to advance the cooperation on cell therapy technology of the Tokyo-based hospital and the Boao International Hospital in southernmost China’s Hainan province, the Taizhou-based company announced yesterday.

Boao International Hospital will pay Oda Hospital technical service fees, which will be decided through consultation, on a yearly basis, Chimin Health noted.

Oda Hospital will allow Boao International Hospital to use all of its cell therapy technologies, including stem cell therapy technologies, train doctors and technicians of Boao International Hospital, and bear the responsibilities for the safety and medical treatment quality of such technologies, Chimin Health added.

The two medical institutions also plan to advance the study and clinical application of cell therapy technologies at Boao International Hospital and promote the local production and sale of cell culture media, whose core technology is owned by Oda Hospital.

Boao International Hospital is a comprehensive hospital in Boao, Hainan province, which is within China's Hainan free trade zone. In 2020, China eased restrictions on using imported drugs and medical apparatus and instruments and relaxed regulations on medical treatment services and medical technology development in hospitals in Boao to speed up the clinical use of innovative drugs by international developers in the country.

Shares of Chimin Health [SHA: 603222] were trading down 1.6 percent at CNY10.25 (USD1.43) as of 10.40 a.m. in Shanghai today.

Editor: Futura Costaglione