Kraig Biocraft Laboratories Inc. said it is working with "a globally recognized performance apparel manufacturer" to develop applications for its advanced spider silk based fibers, which are made by genetically engineered silk worms.
The company produced the first test article in late November and is now scaling up that work to produce additional testing samples, as the companies work together to identify a best first product.
Kraig Biocraft disclosed the news in a Dec. 7 call with shareholders during which it also noted that it has nearly finalized a Vietnamese production agreement. Kraig is establishing its Vietnamese subsidiary and is preparing to open an office in Ho Chi Minh City.
"The company has someone in Vietnam now shepherding the agreement through," said he company. "Vietnam’s excellent infrastructure would allow Kraig to efficiently produce quality fibers."
The company is actively exploring alternative production countries as a backup to Vietnam.
Management for the company said its plans to lists its shares, now trading on the OTCQB market, to a higher exchange once it reached its near term commercialization goals.
The company also said:
R&D will continue, but it is no longer necessary to create a product that is ready for market. Dragon Silk’s tensile strength increased by an additional 11 percent, with a number of samples exceeding 2GPa, and is ready for scale and sale.It successfully produced, with Warwick Mills, the first hybrid fabric combining Monster Silk with a synthetic. The materials blended well, opening opportunities for future blended fabrics and products.
“I think that, among other benefits, our conference call illuminates how we’ve built a solid foundation to establish production. It also explains how we plan to leverage our laboratory successes, and initial silk production, to target several end markets and channel partners. I believe our shareholders will appreciate the significant accomplishments we’ve made over the last year and we encourage all interested parties to listen to the replay broadcast of the conference call.” said Jon Rice, COO.
“With the technology foundation and strategic alignments we’ve made, we believe we are well positioned to be one of the leading players in multiple end markets, serving a multi-billion dollar industry,” stated Kim Thompson, Kraig’s founder and CEO.
Kraig has been working to commercialize Spider Silk technology since obtaining a license to commercialize transgenic silk work technology developed by the University of Notre Dame.
