The Maryland Department of Commerce has joined with the United Kingdom’s Midlands Engine to sign a Memorandum of Understanding (MoU) to foster greater collaboration in the life sciences between the two regions. The agreement was signed by Maryland Commerce Secretary Kelly M. Schulz and Sir John Peace, chairman of the Midlands Engine, at the 2019 BIO International Convention in Philadelphia, where Maryland and a delegation of local companies are promoting the state’s life sciences assets and resources.
“Today’s agreement with Midlands Engine will strengthen our respective life sciences sectors, and spur economic growth in both the UK and Maryland,” said Secretary Schulz.
“I hope this will support further growth for this sector both at home and across the pond,” said Sir John Peace.
Maryland is one of the top states for life sciences in the U.S. with more than 2,300 companies, and Midlands Engine is home to the largest number of medical technology and device companies in the UK.
The MoU is designed to promote economic development, assist life sciences companies in Maryland and the Midlands, and attract investments. As part of the agreement, an exchange program will be developed by which UK life sciences companies will visit Maryland to explore the U.S. market for possible expansion, and Maryland life sciences companies will visit the Midlands region for similar purposes. The MoU is for a period of three years, and can be renewed by both parties.