After years fo research and development, the J Craig Ventner Institute has finally succeeded in creating a living organism from synthetic DNA.  the organism was created by inerting a complete genome of labratory created DNA into a host cell from which the DNA had been removed.  The cell was able to replicate using only the synthetic DNA.

The hope is this synthetic organism will become a labratory platform for research into DNA and the origins of life. 

Today, some drugs and other organic compounds can be synthesized by inserting sequences of DNA into a model organism such as e. coli.  There is always some risk of contamination from the host organism, so obviously using a synthetic host organism at least guarantees that any contimanation coudl only come from an organism who's complete genome is well understood.