Kraig Biocraft Laboratories Transfers Onsite Testing and Screening of Transgenics Technology to its Prodigy subsidiary
ANN ARBOR, Mich., June 07, 2021 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company” or “Kraig Labs”), the biotechnology company focused on the development and commercialization of spider silk, announces the transfer of its onsite testing and screening of transgenics technology to Prodigy Textiles, the Company’s Vietnam based subsidiary.
The Company made the significant decision to transfer testing and screening technologies from its R&D headquarters in the US to its factory in Vietnam. This testing equipment allows for precise screening and selection of the transgenics’ key genetic traits, which are currently conducted exclusively at the Company’s US headquarters. Implementing this testing onsite eliminates the delay caused by transferring samples between the US and Vietnam and further strengthens the Company’s continued production operations against future challenges related to travel restrictions. This new laboratory equipment is in addition to the recently reported production automation equipment that is being installed at the same facility.
This new testing capability will also support the Company’s development program to produce new disease-resistant strains of silkworms. These new disease-resistant lines of silkworms are intended for licensing into the global market for mundane silks to combat pathogenic virus and fungi that account for the loss of approximately 20% of the typical global annual silk production.1
“This move will dramatically increase our production efficency and reduce costs of operations. The labs at Prodigy will be fully equipped to conduct all material performance and genetic screening in real-time. This technology transfer, coupled with the investment in equipment and staffing, will speed up our commercial production ramp-up while eliminating a log jam in operations and is expected to be online within 60 days. Simultaneously, our US R&D team will be freed to focus its attention on bringing next-generation transgenics and materials to market,” said COO Jon Rice.
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully reporting biotechnology company, is a developer of genetically engineered spider silk based fiber technologies.
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
1 Gani, Mudasir & Chouhan, Sahadev & Lal, Babu & Gupta, Rakesh & Rohela, Gulab & Neelaboina, Bharath & Saini, Pawan & Ghosh, M.. (2018). Bombyx mori nucleopolyhedrovirus (BmNPV): Its impact on silkworm rearing and management strategies. Biological Control. 31. 10.18311/jbc/2017/16269.