In a landmark step to enhance Sri Lanka’s scientific and export capabilities, a $15 million MoU was signed between US-based STEMedical and the Sri Lanka Institute of Biotechnology (SLIBTEC) to establish a globally accredited laboratory facility.

The initiative, guided by the National Initiative for Research and Development Commercialisation (NIRDC), will serve as a central hub for testing and quality assurance across vital sectors including health, agriculture, cosmetics, Ayurveda, and exports.

The MoU was signed at the Presidential Secretariat by STEMedical Founder Prof. Hans Keirstead, SLIBTEC Chairman Prof. Samitha Hettige, and COO Amali Ranasinghe. Senior Presidential Adviser Prof. Gomika Udugamasooriya emphasised the lab’s role in supporting the Government’s target to double export revenue by 2030.

Prof. Keirstead hailed Sri Lanka’s visionary leadership and noted the project’s potential to deliver both clinical and economic benefits. The lab is expected to generate revenue by providing international accreditation services and attract global attention in the field of biotechnology and medicine.