Wayne State University President Irvin D. Reid announced today that Mr. Randal Charlton, founder and outgoing CEO of Asterand, Inc., has joined WSU as Entrepreneur in Residence and Special Assistant to the President for Economic Development. Charlton is credited with transforming the 2000 start-up company into the leading supplier of high quality human tissue and tissue-based services in the world. Asterand became the first tenant in TechOne, the first building in Wayne State’s industrial park, TechTown. The company currently employs about 100 people.

Charlton

“Charlton has demonstrated that Wayne State University is a catalyst for the creation of companies that build upon the university’s academic excellence and leadership in technology and research.” noted Wayne State University President Dr. Irvin D. Reid. “As Charlton’s Detroit success story demonstrates, Wayne State plays a key role in improving and diversifying the Michigan economy.”

In his new role, Mr. Charlton will provide ongoing leadership to stimulate local economic development and growth of small high-tech businesses. He will work closely with Dr. Reid to raise the profile of WSU’s efforts and programs in local, regional and state economic development. As WSU’s Entrepreneur in Residence, Mr. Charlton will expand and intensify WSU’s efforts to create jobs in Michigan by nurturing start-up companies borne out of Wayne State’s research and technology breakthroughs.

Asterand, a leading supplier of human tissue samples for medical research, expanded beyond its projection within its first year. Today Asterand is the leader in its field and in less than seven years has gone from an idea to an international public company with operations in over a dozen countries. Importantly, Asterand has been able to compete in the highly competitive world market in large part because Detroit has been an ideal base of operations. Charlton, who was named TechTown Entrepreneur of the Year in 2005, noted that he chose to headquarter his company at TechTown because he saw how Wayne State’s technological leadership created tremendous potential for stimulating economic growth in the city and state.

“I believe that one of the great challenges we face is to improve our ability to transfer technology to the business world,” Charlton said. “The better we do this, the faster we will create new industries and jobs for the city of Detroit and Michigan. I am looking forward to helping Wayne State develop its role as a powerful force for economic growth.”