Kraig Biocraft Laboratories Inc (KBLB)

[TRUISM]

Textile World Asia News-Posted June 17, 2015
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Kraig Biocraft Laboratories Signs Memorandum Of Understanding With Provincial Government Of Vietnam To Mass Produce Spider Silk


LANSING, Mich. — June 15, 2015 — Kraig Biocraft Laboratories Inc., a developer of spider silk based fibers, announced that after a series of meetings with Vietnam’s central and regional governments, it has signed a memorandum of understanding (MOU). This MOU outlines a framework for the creation and rearing of transgenic silkworms in Vietnam. Pursuant to the MOU, Kraig Labs and the Vietnamese provincial government will jointly develop a cooperative plan for the development and production of Kraig Labs trangenics in Vietnam.

“This MOU represents a breakthrough for Kraig Labs and potentially the silk industry. The Central and Provincial Government officials in Vietnam with whom we have held extensive meetings share our passion and vision for reinvigorating the silk industry.

This new relationship should bring new opportunities for both the Company and Vietnam. The goal is commercialization of our disruptive technology for the technical textile markets,” said Company CEO Kim Thompson. “Vietnam offers specialized silk infrastructure which is ideal for expanding our operations. Vietnam’s tradition of quality silk production makes it an excellent fit for our transgenic silkworms. This cooperative effort will further serve to support our recombinant silk technology, its many applications and end markets.”

The Company is continuing to work with the provincial government to develop advanced research and development facilities in Vietnam, as well as pilot production of transgenic hybrids. Negotiations for a final agreement incorporating the terms of the MOU are expected to conclude in the third quarter of 2015.




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