Biotechnology is a field of science that involves the use of living organisms, biological systems, or derivatives thereof to develop or create products and technologies that can improve various aspects of human life and the environment. It encompasses a wide range of techniques and applications, including genetic engineering, molecular biology, microbiology, and biochemistry. Biotechnology can be applied in several areas, such as medicine (e.g., the development of vaccines and therapies), agriculture (e.g., genetically modified crops), environmental management (e.g., bioremediation), and industrial processes (e.g., the use of enzymes in manufacturing). The goal of biotechnology is to harness biological processes for practical purposes, enhancing efficiency, sustainability, and health outcomes in diverse sectors.
BioNTech faces a pivotal transition from COVID-19 vaccine success to focusing on cancer therapies using mRNA technology. Diminishing demand for COVID-19 vaccines has impacted BioNTech's financial performance, with revenue dropping…