Biotech, short for biotechnology, refers to the use of living organisms, cells, and biological systems to develop products and technologies that can improve human life and the health of the planet. It encompasses a wide range of techniques, including genetic engineering, molecular biology, and biochemistry, to manipulate biological systems for applications in medicine, agriculture, and environmental management. Biotech plays a significant role in creating pharmaceuticals, developing genetically modified organisms (GMOs), producing biofuels, and enhancing food production and safety. Overall, biotechnology merges biology with technology to create innovative solutions that address various challenges in healthcare, food security, and sustainability.
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…