Hybridoma technology is a method for producing monoclonal antibodies by fusing antibody-producing B cells with myeloma cells. This results in a hybrid cell, or hybridoma, that is immortal and produces antibodies of a single specificity. Georges J.F. Kohler and Cesar Milstein developed this technique in 1975 and were later awarded the Nobel Prize. The key steps are immunizing an animal, isolating spleen cells and myeloma cells, fusing them to generate hybridomas, selecting hybridomas using HAT medium, and screening for antibody production. Monoclonal antibodies have applications in research, diagnostics, and therapy.