Kraig Biocraft Laboratories Enters Into New Collaborative R&D Agreement
LANSING, MI, Aug 05, 2010 (MARKETWIRE via COMTEX) -- KraigBiocraft Laboratories, Inc. (OTCBB: KBLB ), a biotechnology company focused on the development of commercially significant high performance polymers including spider silk, today confirmed that earlier this year the Company entered into a new collaborative research and development agreement with the University of Notre Dame relating to the development of new polymers.
"The rate of progress and scientific development achieved over the last twelve months has exceeded our expectations. I believe that we are now ahead of our scheduled timeline for R&D and product development," said Kim Thompson, Kraig CEO. "The new collaborative research agreement was designed to help us maintain that momentum. We are also hopeful that our recently completed S1 registration will enable the Company to further accelerate our development of new materials."
For more information on KraigBiocraft Laboratories please visit the Company's web site: www.KraigLabs.com
This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included in this press release, other than statements of historical facts, address matters that the company reasonably expects, believes or anticipates will or may occur in the future. 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. Such statements are subject to various assumptions, risks and uncertainties. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those described in the forward-looking statements.
CONTACT: KraigBiocraft Laboratories, Inc. Kim K. Thompson CEO