An American biotechnology enterprise, Kraig Biocraft Laboratories that develops spider silks and several high performance polymers using the gene sequences of spider silk, announced securing US$ 950,000 bridge financing on 11th December 2020. With this they also filed to the US Security And Exchange Commission for becoming a mandatory and fully reporting company.
This investment will play a significant role in its application for becoming a fully reporting company as it intends to use this funding for scaling their production and will utilize the same for implementing their business plan.
Kim Thompson, the founder and CEO of Kraig Biocraft Laboratories said, “Being a voluntary filer for becoming a mandatory, completely reporting company, Kraig is committed to meet all the reporting standards for the Security And Exchange Commission’s (SEC) filing. Our election for now to formalize these reporting responsibilities is the proof of our dedication for complete operational transparency and growth. This bridge financing will help us for continuing our expansion of our recombinant spider silk production and for all the other purposes which are related to near the term implementation for our business plan.”
The fully reporting biotech enterprise Kraig Biocraft Laboratories Inc will be focused on the commercialization and development of spider silks and few other polymers. They invest in genetic research to target innovative near-term solutions and product development which can effectively meet to provide solutions for the practical problems of the world.
The genetic engineering research of Kraig Biocraft Laboratories has been successful in the development of material science ‘holy grail’. This is a cost-effective and practical technology that produces fibers based on recombinant spider silk on industrial scale. They are moving swiftly to commercialize their spider cell technology which as they believe can make a significant impact on the textile industry worldwide. They are also continuing to work with some leading laboratories for the creation of more flexible and stronger spider silk based fibers which can have potentially broad applications for both customers and the multi-billion dollar markets of performance and textile polymers.
Being passionate about pioneering the development commercialization and research of the next gen high performance fibers based on genetic engineering spider silk, they are the leading company in the genetic research and product development domain.
About Kraig Biocraft Laboratories
Founded in 2006, by Kim Thompson the company holds intellectual property for several spider silk technologies. This includes the global alliances agreements with the United States universities for the patented core technologies. They have a proprietary production process for developing recombinant spider silks. Their flagship fibre ‘dragon silk’ has been demonstrated to be stronger than many of the fibers which are used in bulletproof vests.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
