BusinessCorporate FinanceAccountant set for multi-million pay-out

Accountant set for multi-million pay-out

Chartered accountant and scientist to make £30m from sale of bio-tech company

A chartered accountant and his scientist partner are to earn £30m after
selling their company to bio-tech company, ML Laboratories.

The two, Rajan Uppal and Terrence Chadwick, bought Quadrant Technologies in
2003 and own a 64% controlling stake in the private company.

It has developed a method of stabilising drugs so they can be administered to
asthmatics via their inhalers, the technique understood to have prompted the
£46m offer from ML.

Uppal, 42, specialises in corporate finance and is understood to be the
business brains behind Quadrant. Chadwick, a former physician who develops new
formulations for drugs, is the creative force.

The two have accepted the offer from ML, which is likely to use Quadrant as a
basis of rebuilding its loss making business.

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