LANSING, MI, Feb. 13, 2013 (GLOBE NEWSWIRE) — 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