ANN ARBOR, Mich., Aug. 27, 2021 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company” or “Kraig Labs”), the leading developer of spider silk-based fibers, announces today that it has been granted patent protection for its recombinant spider silk technologies in the European Union.
Securing patent protection for the Company’s recombinant spider silk materials in this major consumer market is a significant milestone for spider silk commercialization. These protections will provide the Company greater control over the use of its revolutionary spider silk materials. Beyond protections for the Company’s core focus in fibers and textiles, this growing list of patents allows for an expanded set of applications for the unique properties offered by spider silk.
Market Data Forecast predicts that the value of the European silk market will reach $2 billion by 2026.
“Securing the patent protections for our recombinant spider silk in Europe is a major milestone for Kraig,” said COO Jon Rice. “Europe marks the largest single consumer market where we have been secured IP protection for our silk. Based on the interest we are seeing, we expect that it will be one of the first markets where consumers are introduced to products based on spider silk.”
While the primary focus of the Company remains on textiles, garments, and fiber-based applications for its recombinant spider silk technology, ongoing research efforts at Kraig Labs have opened several new doors. The Company has been developing gels, powders, and liquid base applications for its specialized silk. These efforts have recently resulted in a significant breakthrough in our production of hydrolyzed spider silk. The Company expects to provide more details on the commercialization and sales of these new materials in the coming weeks.
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward Looking Information
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,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. 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. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
