- Life sciences partnership agreement signed between the Midlands Engine and Maryland Commerce Department
- The Midlands has the second largest concentration of life sciences companies in the UK
Chairman of the Midlands Engine Sir John Peace and the Maryland Commerce Secretary Kelly M. Schulz signed a life sciences partnership agreement on June 4 to foster greater collaboration in the sector between the two regions.
The memorandum of understanding was signed at the Biotechnology Innovation Organization’s (BIO) Convention and Exhibition in Maryland, the largest international Biotechnology and Pharmaceutical convention, and partnering event in the United States, to which Midlands Engine and the Department for International Trade, took a delegation.
The agreement is designed to promote economic development, assist life sciences companies in Maryland and the Midlands, and attract investment. As part of the agreement, an exchange program will be developed where UK life sciences companies will visit Maryland to explore the US market for possible expansion, and vice versa. The MoU is for a period of three years, and can be renewed by both parties.
The BIO event offered Midlands businesses access to global biotech and pharmaceutical industry leaders through one-on-one meetings, chances to meet industry thought-leaders with over 500 education sessions, and networking opportunities with more than 16,000 attendees from 67 countries.
Earlier this year, the Midlands Engine welcomed a delegation of 10 Maryland life sciences companies as an opportunity to explore exporting to the UK market.
The Midlands plays a major part in the UK bioscience sector, which is a priority for the Midlands Engine. In fact, Nottingham is home to BioCity, one of the largest incubators in Europe, housing more than 200 companies.
With industry medical support organisations in both public sector NHS and academics, and commercial, the Midlands offers a huge amount of support for businesses looking to grow in this sector.
Maryland is one of the top states for life sciences in the U.S. with more than 2,300 companies in the region.
Sir John Peace, Chairman of the Midlands Engine said:
“The MoU cements our relationship with the United States in the bioscience sector, and will advance the knowledge sharing between the Midlands and Maryland. I hope this will support further growth for this sector both at home and across the pond.”
Kelly M. Schulz, Secretary of the Maryland Commerce Department:
“Today’s agreement with Midlands Engine will strengthen our respective life sciences sectors, and spur economic growth in both the UK and Maryland.”
“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.”