Sigma-Aldrich and Kraig Biocraft Laboratories Successfully Negotiate License Agreement
Sigma-Aldrich and Kraig to work together to create the next generation biomaterials.
Sigma-Aldrich Becomes Kraig Shareholder
LANSING , MI --4/12/2011 – Kraig Biocraft Laboratories, Inc. (Pinksheets: KBLB) announced today that the Company has entered into a licensing agreement with biotechnology giant Sigma-Aldrich (NASDAQ: SIAL), Inc.
Kraig has successfully negotiated a license to use Sigma-Aldrich's powerful zinc finger technology to accelerate its scientific research and product development, along with an option to commercialize the resulting biomaterials in the textile and biomedical fields.
“Sigma-Aldrich's proprietary zinc finger technologies are extremely powerful tools which enable very precise genetic targeting,” said Kraig's CEO Kim Thompson. “We are convinced that this technology is the key to creating advanced new products and materials. We believe that when these customized tools are delivered by Sigma in the coming weeks, the technology will enable us to rapidly and precisely target specific gene sequences for the creation of stronger fibers, advanced textiles and new bio-materials.”
“ZFN technology has been revolutionary in genome engineering for various applications, including animal models of disease, engineering of biopharmaceutical production systems, academic research and therapeutics,” said Dr. Joseph Bedell, Director of Sigma's Commercial Animal Technology Group. “Spider silk production is just the first example of a commercial animal application for this exciting technology.”
“Kraig has the utmost confidence in the power of Sigma's zinc finger technology,” said Mr. Thompson. “Sigma's agreeing to provide this technology by virtue of the licensing agreement to Kraig, is a real boost for us, and for the future of bio-materials and spider silk technology. We negotiated this agreement not only to accelerate our development of advanced materials, but also because I believe that Sigma's zinc finger technology will reinforce Kraig's competitive advantage in the field of bio-materials and advanced silk polymers. Kraig Biocraft Laboratories expectation is that the combination of Sigma-Aldrich's revolutionary technology and know-how, coupled with Kraig's proprietary bio-materials technology and know-how, will create synergies that will benefit both companies.
Sigma- Aldrich is a leading Life Science and High Technology company. Its biochemical and organic chemical products and kits are used in scientific research, including genomic and proteomic research, biotechnology, pharmaceutical development and as key components in pharmaceutical, diagnostic and other high technology manufacturing. The Company has customers in life science companies, university and government institutions, hospitals, and in industry. Over one million scientists and technologists use its products. Sigma- Aldrich operates in 38 countries and has 7,900 employees providing excellent service worldwide. Sigma- Aldrich is committed to Accelerating Customer Success through Innovation and Leadership in Life Science, High Technology and Service. For more information about Sigma-Aldrich, please visit its award-winning Web site at http://www.sigma-aldrich.com .
About Kraig Biocraft Laboratories
Kraig Biocraft Laboratories is a fully reporting biotechnology company that recently achieved a series of scientific breakthroughs, with implications for the global textile industry. For further information please visit www.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," "implications," "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.
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See Sigma-Aldrich's related press release