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Kraig Biocraft Laboratories Takes Next Steps in Prodigy Textiles’ Spider Silk Commercialization Program

2018-05-15T04:27:54+00:00 May. 15, 2018 7:00AM EST|

Increased transgenic egg production and staffing of new operations among its New Vietnamese Subsidiary’s next steps

ANN ARBOR, Mich., – May 14, 2018 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers provides an update on progress towards the commercialization of spider silk technology following last week’s announcement of the formation of its Vietnamese subsidiary, Prodigy Textiles Co,. Ltd (“Prodigy”).  The Company views Prodigy as its main production arm for spider silk technologies.

The Company is gearing up production of its proprietary spider silk silkworm eggs in preparation for shipment to Prodigy.  These Silkworms are slated to be the first transgenics produced at Prodigy.

Kraig Labs has identified a facility, in Quang Nam province, with the capacity to support operations and is working with local experts to update and buildout the facility to meet production specifications.    

To bring Prodigy production operations online, Kraig Labs has accelerated Prodigy’s staffing and hiring plans.  Key technical and administration positions within Prodigy have been identified and the Company is working with its consultants in Vietnam to fill these positions. 

Company management is now preparing to travel to Vietnam to oversee Prodigy’s launch, where they will also be oversee hiring core staff, the transfer of the Company’s spider silk silkworm technology, and the beginning of operations. 

“Momentum at Prodigy is growing and we’re focused on the exciting milestones ahead,” said Jon Rice, COO.  “We are busy preparing silkworm eggs for shipment and putting the team in place at Prodigy to hit the ground running.  We are now taking concrete steps to build on all the work we’ve done in Vietnam and to convert that into a thriving operation for spider silk production.”

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.

Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com

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This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or "planned," "will," or "should," "expected," "anticipates," "draft," "eventually," or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC undertakes no obligation to update such statements

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