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Lithuania's innovation growth performance is the second highest in the EU

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VILNIUS, LITHUANIA (MMD Newswire) April 15, 2013 -- The European Commission released the Innovation Union Scoreboard for 2013 on March 26 calculating that Lithuania had the second highest increase in innovation growth performance in the European Union between 2008 and 2012. The score highlights growing opportunity in the life sciences sector in Lithuania.

With a pool of 18,000 researchers and specialists and more than 25 highly advanced research and manufacturing companies in the biotech field Lithuania is on its way to become a top biotech innovation hub in Eastern Europe. Investors are learning that Lithuania's engineers, scientists and doctors can perform quality, cost-effective research and production that bolsters a firm's bottom line.

On April 22nd, at 9am in Chicago at the BIO International Convention2013, Milda Dargužaite, Managing Director of Invest Lithuania, will discuss Lithuania's advantages and potential proposals for business development in the biotech sector. She will join Martin Berardi, President of Moog Medical Devices Group; Arūnas Karlonas, Director at the Agency for Science, Innovation and Technology; and moderator, Gary Keller, President and CEO of Xomix, Ltd, to address:

- Lithuania's accommodating infrastructure and policies to support Life Sciences;

- The country's talented, cost-effective workforce and the nation's strong scientific ethos;

- Opportunities for clinical and regulatory partnerships; and

- Potential for cross-border collaboration and capitalizing on growing regional business demand.

The BIO International Convention 2013 event will draw 16,500 CEOs, scientists and investors from around the world to learn about emerging bioscience technologies; to network with their peers; and to showcase global business opportunities. For more information please follow the link: Lithuania: an emerging biotech investment destination.

To arrange a personal meeting with one of the speakers and learn about opportunities in Lithuania, please contact Ms. Agne Selemonaite at agne.selemonaite@investlithuania.com. For more information or to register for the event please visit: www.convention.bio.org .

Lithuania's innovation growth performance second highest in the EU

About Invest Lithuania

Invest Lithuania is a government agency that provides global companies interested in doing business in Lithuania free advice and introductions to on-the-ground experts. The agency serves as a single point of contact for foreign investors and companies, guiding them through every step of establishing operations in Lithuania.

Invest Lithuania also provides information on Lithuania's labour force, tax incentives and local financing options. The agency has worked with numerous well-known global companies taking advantage of many incentives to expand their businesses in Lithuania.

For more information please contact:

Justinas Pagirys | Invest Lithuania, Senior Investment Advisor

Tel.: +370 5 2194310 | Email: justinas.pagirys@investlithuania.com

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