Kraig Biocraft Laboratories Provides Update on the Monster Silk (TM) Pilot Production Program's Second Stage; Program is Accomplishing Its Targeted Milestones and Remains Well Ahead of Schedule
The Ongoing Pilot Production Program's Second Phase Results are Exceeding First Phase
LANSING, Mich., Feb 25, 2013 (GLOBE NEWSWIRE via COMTEX) -- Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB) (the "Company" or "Kraig"), the leading developer of advanced spider silk based fiber technologies, announced today that the first two stages of its Monster Silk(TM) pilot production program ("program") are running ahead of schedule and that both stages of the program are on track to meet or exceed the program's goals.
The production capacity for the first two stages exceeds the Company's prior maximum capacities by a factor of four or five.
The program is designed to be the basis of the Company's large scale commercial production of its recombinant spider silks. The program is designed to run in three stages; with each successive stage launching when the previous stage's data indicates that the program is reaching, or exceeding, its benchmarks.
The current data supports the continued fast-tracking of the program, as the second phase is developing on track, surpassing the trial's initial phase in terms of capacity and success rates. The first stage continues to run ahead of expectations and is already moving to an advanced state.
"So far the pilot production program has exceeded our expectations and is confirming that our production model is fully scalable, as Phase II surpassed the program's first phase, despite the fact that it's a much larger trial," said Kraig founder and CEO, Kim Thompson. "From the beginning, this has been an ambitious program, which now appears to be rewarding our efforts. We are continuing to rapidly advance through stage two of the production program."
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. ( www.KraigLabs.com ), a fully 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. The Company has recently launched a pilot production program as a major step toward large scale commercial production.
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