Asterand Named High Tech Company Of The Year

DETROIT ? Asterand was named the High Technology Company of the Year last week by the Michigan Economic Development Corp.

Asterand, a human tissue bank company, is based at Wayne State University?s Tech Town. The MEDC has given Asterand some $2.3 million for research and development.

?I believe Asterand was selected because we provide a key resource for the world of drug discovery,?? said Asterand CEO Randal Charlton. ?No drug can appear on a pharmacy shelf without the use of tissue based experiments. By providing the highest quality research materials and data we can speed the time that drugs are developed and made available to the public.?

Charlton said 40 percent of Asterand?s revenues are exports to Europe, the Far East and Australia. He said his company has created one new high paying tech job for every month it has been in existence. The company is five years old.