Sri Lanka, July 15 -- A Memorandum of Understanding (MoU) was signed this morning (15) at the Presidential Secretariat between STEMedical of the USA and the Sri Lanka Institute of Biotechnology (SLIBTEC) to establish a laboratory with internationally recognised accreditation.

The MoU for this $15 million investment project, conducted under the guidance of the National Initiative for Research and Development Commercialisation (NIRDC), was signed by Professor Hans Keirstead, founder of the American company STEMedical and on behalf of the Sri Lanka Institute of Biotechnology (SLIBTEC), by its Chairman, Professor Samitha Hettige and Chief Operating Officer, Amali Ranasinghe.

For a long time, there has been a need to enhance the capacity of ...