Current research has and is revealing that genetic diseases (abnormalities a person may be borne with) are caused by a mutation (an error in a certain gene, i.e., segment of DNA code), hence the failure to produce a certain enzyme or structural protein, thus the disease.
Using biochemical techniques it is possible to identify the exact gene (segment of DNA) at fault, synthesize or isolate the normal gene, put that gene into an experimental animal, e.g., a hamster. The hamster then synthesizes the protein enzyme, which can be isolated and infused into the patient alleviating his/her genetic disease.
A practice now widely use in agriculture is to excise a desirable gene e.g., a gene for frost resistance, from one species and insert it into another. This has tremendous potential for improve agricultural crops. Here is a video describing current applications and potential. Facilitate students discussing pros and cons.
It is theoretically possible to do this with humans as well. However, this is fraught with ethical considerations. Discuss with your students as desired.