Chloramphenicol is an antibiotic produced by Streptomyces venezuelae that was first isolated in 1947. It inhibits bacterial protein synthesis by binding to the 50S ribosomal subunit, preventing peptide bond formation. While effective against a variety of bacteria, chloramphenicol can also inhibit mitochondrial protein synthesis in mammalian cells, causing toxicity issues like bone marrow suppression and the rare but serious gray baby syndrome in neonates. As such, it is reserved for treating serious infections when other antibiotics cannot be used.