ANN ARBOR, MICH.--(BUSINESS WIRE)--
Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announced today that Prodigy Textiles, the Company’s Vietnamese subsidiary, completed the first cycle of silk moth mating and egg production scale-up, at the Quang Nam factory.
The Prodigy Textiles operations team finished removing the cocoons from mounting frames on November 6th and silk moths began emerging by November 9th. The breeding of the emerged moths is complete, with the specialized silkworm eggs now in incubation and expected to emerge shortly. Each female silk moth lays upwards of 200-500 eggs and, as previously announced, all of the emerged silk moths were dedicated to breeding stock expansion, to rapidly scale up the Company’s silk production capacity.
Over the coming weeks, the Company expects to hatch and rear this second round of silkworms, then harvest the resulting cocoons for production of the first recombinant spider silk threads manufactured in Vietnam. The Company will contract with a nearby reeling facility to convert the cocoons into finished silk yarn, which has already been committed to a textile manufacture for further fabric and product development.
The Company plans to continue to expand its throughput, over the next several quarters, as it builds up its capacity, expands operations, and prepares to ship materials to its collaborators and potential customers.
“The launch of each new production phase marks a significant Prodigy milestone, so this is an especially exciting time for Kraig Labs, which, after the years and efforts needed to overcome numerous challenges and regulatory hurdles, is successfully transitioning our technology from the lab to the factory,” said COO, Jon Rice. “It is a pleasure to share each meaningful step forward and, over the next few quarters, we anticipate some thrilling changes for our business and our shareholders, as we begin bringing our recombinant spider silk technologies and capabilities to the markets.”
To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news.
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/20191118005257/en/
Copyright Business Wire 2019