Schematic illustration of the design philosophy, the preparation process of genetically engineered Bio‐MVs. Benefiting from the genetic engineering tactics, the artificial proteins (antibody, antigen, virus epitope, iron channel proteins, functional peptides, recognition receptors, etc.) can be modified on the cell membrane with specificity, sort orders, and strict information of themselves maintaining. Following prepared Bio‐MVs with these specific customize proteins anchoring on surface, just like “tailorable shells” with interior space for other moieties encapsulation, will have great potential for cancer immunotherapy, vaccine delivery, virus/bacterial toxin capture, cancer oncolytic virotherapy as well as cancer theranostics.