Kraig Biocraft Laboratories and SSM Industries Sign Memorandum of Understanding to Jointly Commercialize Recombinant Spider Sil
February 13 2013 - 6:05AM
Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Kraig") and SSM
Industries, Inc. ("SSM") jointly announced today that they have
signed a memorandum of understanding ("MOU") to jointly
commercialize Kraig's Monster Silk™ recombinant spider silk.
The purpose of the MOU is to develop a framework for cooperation
between SSM and Kraig regarding spider silk commercialization and
marketing. The parties anticipate collaborating to develop knitted
and woven textiles utilizing Monster Silk™ and possibly other
recombinant spider silks, which have been developed by Kraig or
which are in its development pipeline.
The collaborative work would extend to product applications'
development and marketing. Under the MOU the two companies would
jointly develop select applications, for Monster Silk™ and other
recombinant spider silks which have been developed by Kraig. This
alliance is intended to support the market development for spider
silk based textiles.
"SSM Industries, Inc. is an American company with a proven track
record of innovation and excellence in technical textiles and
protective apparel, so we are delighted to be working with them,"
said Kraig CEO and founder, Kim Thompson. "Today's memorandum of
understanding allows us to work toward combining the capabilities
of both companies in pursuing markets for knitted and woven
applications of spider silk.
"This MOU is a big step forward in moving our spider silk
products from the laboratory and toward meeting the increasing
demand for innovative high strength materials, technical textiles
and protective composites. I believe that it greatly accelerates
Kraig's access to critical protective clothing and technical
markets.
"This collaboration with a technical textile innovator marks a
major milestone toward bringing Kraig Biocraft Laboratories'
genetically engineered spider silks to mainstream markets in
commercial volume," concluded Thompson.
"We are very happy to enter into co-operation between Kraig Labs
and SSM Industries for developing the markets and product
applications for spider silks, especially in regard to life &
limb protective gear, apparel and composites," said SSM spokesman
Phil Chandler.
"Both parties acknowledge the potential of working together to
develop and promote recombinant spider silk related textiles and
product applications," continued Mr. Chandler. "I believe the
signing of the MOU between our companies marks a starting point for
the development of significant markets for spider silk
technologies. We are excited to be at the ground floor as we work
together with Kraig to develop and grow this market segment. This
new relationship demonstrates SSM Industries commitment to
unlocking markets and developing innovative solutions that benefit
our world and satisfy global demand."
The parties caution that while the MOU is a major step toward a
binding agreement, it should not be relied upon as a guarantee that
a binding agreement will be completed.
Kraig Biocraft Laboratories is in discussions with other
companies to complete a consortium to drive the penetration of its
recombinant spider silks into global markets.
About Kraig Biocraft Laboratories
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com) is a fully
reporting biotechnology company that has achieved a series of
scientific breakthroughs in the area of spider silk technology with
implications for the global textile industry.
About SSM Industries
SSM Industries Inc. (www.Ssmind.com), based in Spring City, TN,
is a full service safety and protective fabric manufacturer that
manufactures flame resistant, cut resistant, and thermal
fabrics.
SSM has established itself as an innovator in technical textiles
and performs in-house yarn spinning, knitting, weaving, dyeing and
finishing. The company produces products that are used by the U.S.
military, the auto racing industry, firefighters, first responders,
and industrial applications where materials with strength and
protective properties are required. Internal research and
development and an in-house Military certified lab to test the
finished fabrics complement SSM's vast technical textile
capabilities.
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," "develops," "researching,"
"research," "potential," "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.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale of any securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
CONTACT: Ben Hansel, Hansel Capital, LLC.
(720) 288-8495
ir@kraiglabs.com
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