The biotech industry is exciting but risky

Article Excerpt

Biotechnology is a science-driven industry that uses living organisms and molecular biology to produce healthcare-related products. Biotechnology is best known for its role in medicine and pharmaceuticals, but the science is also applied in other areas such as genomics, food production, and the production of biofuels. The term biotechnology was first used by Károly Ereky in 1919 to refer to the production of products from raw materials with the aid of living organisms. The core principle of biotechnology involves harnessing biological systems and organisms, such as bacteria, mould, and plants, to perform specific tasks or produce valuable substances. The production of beer where a living organism—unicellular fungi—is introduced to a solution of malted barley sugar to develop the aroma and alcohol in beer is one example. Another is the development of penicillin, which is extracted from mould and used as an antibiotic to treat bacterial infections. Biotechnology took off in the 1950s, spurred by a better understanding of cell function and molecular…