Kraig Biocraft Laboratories And SSM Industries Sign Memorandum Of Understanding To Jointly Commercialize Recombinant Spider Silk
LANSING, MI, Feb. 13, 2013 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Kraig") and SSM Industries, Inc. ("SSM") jointly announced today that they have signed a memorandum of understanding ("MOU") to jointly commercialize Kraig's Monster Silk™ recombinant spider silk.
The purpose of the MOU is to develop a framework for cooperation between SSM and Kraig regarding spider silk commercialization and marketing. The parties anticipate collaborating to develop knitted and woven textiles utilizing Monster Silk™ and possibly other recombinant spider silks, which have been developed by Kraig or which are in its development pipeline.
The collaborative work would extend to product applications' development and marketing. Under the MOU the two companies would jointly develop select applications, for Monster Silk™ and other recombinant spider silks which have been developed by Kraig. This alliance is intended to support the market development for spider silk based textiles."SSM Industries, Inc. is an American company with a proven track record of innovation and excellence in technical textiles and protective apparel, so we are delighted to be working with them," said Kraig CEO and founder, Kim Thompson. "Today's memorandum of understanding allows us to work toward combining the capabilities of both companies in pursuing markets for knitted and woven applications of spider silk. "This MOU is a big step forward in moving our spider silk products from the laboratory and toward meeting the increasing demand for innovative high strength materials, technical textiles and protective composites. I believe that it greatly accelerates Kraig's access to critical protective clothing and technical markets. "This collaboration with a technical textile innovator marks a major milestone toward bringing Kraig Biocraft Laboratories' genetically engineered spider silks to mainstream markets in commercial volume," concluded Thompson. "We are very happy to enter into co-operation between Kraig Labs and SSM Industries for developing the markets and product applications for spider silks, especially in regard to life & limb protective gear, apparel and composites," said SSM spokesman Phil Chandler.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV