What is directed evolution and why did it win the chemistry Nobel prize?

3D render of an immunoglobulin attached to a bacterial surface

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If you’ve got questions about yesterday’s chemistry Nobel prize then we’ve got answers

Today, the 2018 chemistry Nobel prize was awarded for putting the power of evolution into chemists’ hands. Frances Arnold was recognised for inventing directed enzyme evolution, while George Smith and Gregory Winter received the prize for discovering how to get bacteria to make proteins to order. Buthow do these techniques work and how are they shaping drug development and the creation of new biofuels?