MARYLAND COMMERCE, UK MIDLANDS SIGN AGREEMENT TO PARTNER ON LIFE SCIENCES
BALTIMORE, MD (June 5, 2019) – The Maryland Department of Commerce today 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. 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 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. “Maryland and Midlands Engine share many strengths, and this MoU will open up new opportunities for companies in both regions to partner and share best practices.”
“The MoU cements the relationship in the life sciences field and the knowledge sharing between the Midlands and the United States,” said Sir John Peace. “I hope this will support further growth for this sector both at home and across the pond.”
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.
Maryland and Midlands Engine have been collaborating for several years. In 2017, Maryland Commerce signed a similar MoU with Midlands Engine related to cybersecurity. Earlier this year, Maryland led a delegation of 10 Maryland life sciences companies to the Midlands region to help them explore exporting to the UK market, and included meetings with investors, partners, and potential customers. In addition, later this week, 10 UK companies from the Midlands region will visit Maryland to meet with local companies, health care systems, and educational institutions for potential partnership.
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies and providing financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.