Kraig Biocraft Laboratories, Inc. focuses on developing protein based fibers using recombinant DNA technology for commercial applications in the technical textile and specialty fiber industries in the United States. The company’s products are used in military and police applications for ballistic protection; industrial applications, including critical cables and abrasion/impact resistant components; safety equipment; and composite materials for the aerospace industry.
Average daily volume for KBLB is 898 thousand shares. Today’s news has caused the volume to increase to 1.2 million shares in the morning hours of trading.
Kraig Biocraft Laboratories, Inc. Press Release:
ANN ARBOR, Mich.–(BUSINESS WIRE)–
The Company developed a new recombinant spider silk fiber with properties targeted for protective textile applications
Kraig Biocraft Laboratories, Inc. (KBLB) (“Company”), the leading developer of spider silk based fibers, announces today that, working under its contract with the US ARMY (“Army”), it developed a strain of genetically engineered silkworms that better match the physical properties required for applications in protective textiles.
Tentatively called Dragon Silk 2.0; this new strain is the next evolution in the development of protective fibers, built upon the Company’s existing Dragon Silk, and is a further example of the Company’s ability to adapt and tailor the properties of its recombinant spider silk materials to meet end market performance requirements. Through the use of its fiber performance testing capabilities, paired with a select breeding program, the Company created a strain that is stronger, yet less elastic, than the original Dragon Silk.
Specifically created in response to input from the Army, based on requirements for antiballistic applications, this new strain of recombinant spider silk silkworms is the second phase of the Company’s development agreement with the Army. Kraig Labs delivered shootpack panels to the Army, earlier this summer, made of its original Dragon Silk material and those panels are awaiting testing.
“When the Army chose to award the second phase of this project we knew that we were given a great opportunity to prove the power of our technology and our approach using silkworms,” said COO, Jon Rice. “Today we’re thrilled to announce that our work was a success and that we now have a line of silkworms that produce a recombinant spider silk better matched for the demands of protective textile applications. We expect this new strain will play a critical role in our expansion and commercialization of spider silk far beyond the market for bullet proof vests.”
Over the next several months Kraig Labs plans to scale up the production of this new recombinant spider silk fiber at the Company’s domestic facility, in order to fulfill the second phase deliverables to the Army.
To view the most recent edition of Kraig’s Spider Sense quarterly newsletter and/or to sign up for Company alerts, please go to www.KraigLabs.com/newsletter
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181030005374/en/
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