Three new directors were overwhelmingly appointed yesterday to help turn around the sagging fortunes of biotechnology firm CBio, which has been plagued by management turmoil during the past month. But investors gathered for an extraordinary meeting in Brisbane said they were "appalled" to learn that two additional directors had been appointed without their approval during a board teleconference late Thursday. Shareholders endorsed Helen Cameron, Warren Brown and Dr Ralph Craven to serve on the board. They are all experienced directors and investors in CBio, which has racked up more than $106 million in accumulated losses during the past decade as it tries to commercialise arthritis drug "XToll".
