Monoclonal antibodies are proteins produced by B-lymphocytes that react with a specific antigen. They are produced using hybridoma technology which involves fusing antibody-producing B-lymphocytes with myeloma cells in vitro to create a hybrid cell that can produce monoclonal antibodies directed against a single antigenic determinant. The principle involves using myeloma cells that cannot synthesize their own antibodies and have mutations in pathways involved in nucleotide synthesis, allowing the selection of only hybrid cells that can produce antibodies.