Frequently required for applications to shows, artists use their biography to inform their audience about their background. A tool for client interaction, biographies play an important role in establishing credibility and relevance for the artist.
The worst thing you can do, in my humble opinion, is to exaggerate your artist biography to make it more than it is. Once people find out the truth, you lose all credibility for anything else.
For example, if you studied for some years for a Bachelors, but did not complete, do not be nervous about stating this. If it was important for you to say you studied for XX then it is just as important for you to say why you stopped. Maybe life got in the way. It happens and is a valid part of your experience, and path to where you are now. But don’t lead people to think you have something when you don’t. Or don’t say it at all. A “do” would be to say what your past interactions were and how your background has informed your current situation today.
Or if you worked for an organization, be clear about what you did. Be proud of your involvement in various groups, and say that too. It is just like a job resume, in a way, it tells your audience who you are as a person by your past interests, and gives depth to your art.
Here is a link to another view by Brian Sherwin, an American Art Critic, on what to include in biographies, though in this case, it is coupled with the artist statement.
As you feel more comfortable with your art and your role as an artist, you will realize that where you came from is just as valid as where you are going.