Kraig Exercises Option for Exclusive Commercial License
SOUTH BEND, IN — (Marketwire) — 09/30/10 — Kraig Biocraft Laboratories, Inc. (OTCBB: KBLB) is very pleased to announce that a provisional patent application has been filed by the University of Notre Dame on the artificial spider silk technology revealed at the Company’s joint press conference yesterday with the University of Notre Dame. The patent filing covers all of the breakthrough technology revealed at the press conference, including artificial spider silk and the methods used to create transgenic silkworms capable of spinning artificial spider silk and recombinant fiber.
Pursuant to the provisions of Kraig Biocraft Laboratories collaborative research and intellectual property agreement with the University, the Company has an option for a global exclusive license to use the technology commercially. The Company is happy to inform its shareholders that it has now exercised that option.
“We built this company with this moment in mind. Our exclusive commercial license was essentially pre-negotiated at the time we entered into the collaborative research agreement,” explained CEO Kim Thompson. “The next few months will be a very exciting time for Kraig as we work toward our vision for commercialization of this new and exciting technology. We are rapidly moving from being exclusively research and development to entering a marketable product and deliverable biotechnology stage.”
For more information on the University’s view of this spider silk technology breakthrough you can visit http://newsinfo.nd.edu/ .
For more information on Kraig Biocraft Laboratories please visit the Company’s web site: https://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,” “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