Sigma-Aldrich and Kraig Biocraft Laboratories Successfully Negotiate License Agreement
April 12 2011 - 6:05AM
Marketwired
Kraig Biocraft Laboratories, Inc. (PINKSHEETS: KBLB) announced
today that the Company has entered into a licensing agreement with
biotechnology giant Sigma-Aldrich (NASDAQ: SIAL), Inc.
Kraig has successfully negotiated a license to use
Sigma-Aldrich's powerful zinc finger technology to accelerate its
scientific research and product development, along with an option
to commercialize the resulting biomaterials in the textile and
biomedical fields.
Under the terms of the agreement announced today, Sigma will
provide Kraig with its proprietary genetic engineering tools and
expertise in zinc finger nuclease to enable Kraig to significantly
accelerate its product development. In addition to providing the
customized tools and technological know-how, Sigma has granted
Kraig an option for a commercial license to use the technology in
the textile and biomedical markets. Sigma has agreed that upon
exercise of the option Kraig will have exclusive commercial rights
to use Sigma ZFNs in conjunction with the insertion of more than
two hundred proprietary spider silk sequences previously licensed
by Kraig from a third party into the silkworm genome. Sigma-Aldrich
will be creating customized zinc fingers for Kraig's use in its
development of spider silk polymers and technical textiles.
"Sigma-Aldrich's proprietary zinc finger technologies are
extremely powerful tools which enable very precise genetic
targeting," said Kraig's CEO Kim Thompson. "We are convinced that
this technology is the key to creating advanced new products and
materials. We believe that when these customized tools are
delivered by Sigma in the coming weeks, the technology will enable
us to rapidly and precisely target specific gene sequences for the
creation of stronger fibers, advanced textiles and new
bio-materials."
"ZFN technology has been revolutionary in genome engineering for
various applications, including animal models of disease,
engineering of biopharmaceutical production systems, academic
research and therapeutics," said Dr. Joseph Bedell, Director of
Sigma's Commercial Animal Technology Group. "Spider silk production
is just the first example of a commercial animal application for
this exciting technology."
"Kraig has the utmost confidence in the power of Sigma's zinc
finger technology," said Mr. Thompson. "Sigma's agreeing to provide
this technology by virtue of the licensing agreement to Kraig, is a
real boost for us, and for the future of bio-materials and spider
silk technology. We negotiated this agreement not only to
accelerate our development of advanced materials, but also because
I believe that Sigma's zinc finger technology will reinforce
Kraig's competitive advantage in the field of bio-materials and
advanced silk polymers. Kraig Biocraft Laboratories expectation is
that the combination of Sigma-Aldrich's revolutionary technology
and know-how, coupled with Kraig's proprietary bio-materials
technology and know-how, will create synergies that will benefit
both companies.
About Sigma-Aldrich
Sigma-Aldrich is a leading Life Science and High Technology
company. Its biochemical and organic chemical products and kits are
used in scientific research, including genomic and proteomic
research, biotechnology, pharmaceutical development and as key
components in pharmaceutical, diagnostic and other high technology
manufacturing. The Company has customers in life science companies,
university and government institutions, hospitals, and in industry.
Over one million scientists and technologists use its products.
Sigma-Aldrich operates in 38 countries and has 7,900 employees
providing excellent service worldwide. Sigma-Aldrich is committed
to Accelerating Customer Success through Innovation and Leadership
in Life Science, High Technology and Service. For more information
about Sigma-Aldrich, please visit its award-winning Web site at
http://www.sigma-aldrich.com.
About Kraig Biocraft Laboratories
Kraig Biocraft Laboratories is a fully reporting biotechnology
company that recently achieved a series of scientific
breakthroughs, with implications for the global textile industry.
For further information please visit www.KraigLabs.com.
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," "hopes," "develops," "researching," "research,"
"potential," "implications," "could" or other words or phrases of
similar import. Similarly, statements in this release that describe
the Company's business strategy, outlook, objectives, plans,
intentions or goals should all be considered forward-looking
statements. 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.
Management cautions that its ability to further its research, and
create commercially-viable products may be affected by the
competitive environment, the Company's financial condition and its
ability to raise sufficient capital to meet the financial
obligations of its business plan and to fund its continuing
operations.
Contact: Ben Hansel (720) 288-8495 Email Contact
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