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Virtual Life Science Companies Launch and Tour
Date:10/22/2007

a virtual company. There has been a lot of talk about it and developing drug pipelines and connecting various companies within the chain. But here, this company has really figured out how to get people involved. You know the simple process of putting your business card in the particular place you are along the continuum of drug discovery and development. And then capturing that information and linking it up with all the other players with the different steps is just fantastic," said Randal Charlton during the launch.

"We are in a flat world. We are not just competing with our neighboring states. Forget that. We are competing with India, with China and a lot of low cost countries. We are going to have to form alliances. I can foresee a time in the future where Michigan companies are going to be collaborating around the world in this virtual company," said Charlton, founder of Asterand, plc, former Chairman of MichBio, and currently Interim Director of TechTown Detroit.

"I was formerly the CEO of a large medical device company and we had all of the in-house resources and the funds to hire the resources we needed to develop and commercialize a product. But if you are one of these smaller companies you don't have the resources to know who to hire to help you and you don't have the resources to let the possible customers know who you are or where you are. This is a novel idea to make the connections and combine the resources," said Ruben Derderian, medical device consultant and CEO of Derderian Associates, Inc.

"The Virtual Companies will be a real asset in developing the startup and service community in Michigan. I have already referred businesses to participate in this project and they have. I think this will mature quickly into a resource for all of these Michigan life science businesses," Derderian said.

"A virtual company has no limit to its size or reach. This is a concept that makes a business location irrelevant to the customer, except in
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SOURCE Michigan Life Science Network
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