Biotechnology is the science that involves the use of living organisms, cells, or biological systems to develop products and technologies aimed at improving various aspects of human life and the environment. It combines biological sciences with engineering technologies to manipulate biological systems for applications in fields such as medicine, agriculture, and environmental management. This can include processes like genetic engineering, where DNA is modified to create desired traits, fermentation technology for producing food and beverages, and bioremediation, which uses microbes to clean up contaminated environments. Biotechnology plays a crucial role in developing vaccines, antibiotics, genetically modified organisms (GMOs), and biofuels, among other innovations.
BioNTech is shifting focus from COVID-19 vaccines to cancer therapy innovation using mRNA technology. The company faces financial challenges with a decline in earnings and revenue, indicating a tough transition…