Cambridge Biotech Corp. took its first step toward turning around the company, which went into Chapter 11 in July 1994, appointing Alison Taunton-Rigby president and CEO.

Taunton-Rigby told BioCentury she was attracted to Cambridge Biotech by its strong technology base, the fact that it already has products on the market, its product pipeline, and its core of scientists, very few of whom have left while the company has been in bankruptcy.