ANN ARBOR, Mich., – November 20, 2018 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announces today that it signed a key memorandum of understanding with the Institute of Biotechnology – Vietnam Academy of Science and Technology (“IoB-VAST”) and the Vietnam Sericulture Research Centre (“VSRC”) to import and rear its transgenic silkworms in Vietnam. This pivotal agreement provides a location, skilled workers, security, and necessary oversight, for the Company to import and begin testing its first batch of recombinant spider silk silkworm eggs in Vietnam.
Under this agreement, the VSRC will provide professional manpower for hatching, caring and nurturing of the silkworms, while IoB-VAST will provide a secure location to receive, store, and preserve the Company’s transgenic silkworms, in accordance with Vietnam’s regulations.
The previously reported authorizations, from key Vietnamese central government ministries, established guidelines for the importation of the Company’s transgenic silkworms. In addition to leveraging the expertise and capacities of IoB-VAST and VSRC, this agreement provides the structure and regulatory compliance to address those regulatory requirements.
The Company is now preparing to send key team members, including production staff, to accompany the first batch of transgenic silkworm eggs, on their trip from Kraig Labs’ US headquarters to Vietnam.
“We’re honored to work with the Institute of Biotechnology and the Vietnam Sericulture Research Center, undertaking work that we believe will revolutionize silk production and make significant impacts on consumer products,” said, CEO and Founder, Kim Thompson.
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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.
Ben Hansel, Hansel Capital, LLC