This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs