LANSING, Mich., March 7, 2008 (PRIME NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCBB:KBLB) announced today that its common stock is now publicly trading on the OTCBB under the trading symbol: KBLB. Copies of its latest financial reports and SEC filings are available on the EDGAR system and on the Company's web site: www.KraigLabs.com
In light of these exciting events, the company's founder and CEO, Kim Thompson, said, "It is appropriate that we provide the financial community with a brief outline of the company's historical milestones, which have brought us to the OTCBB."
Kraig Biocraft Laboratories was founded in April 2006 to develop and commercialize spider silks and other high performance polymers using spider silk gene sequences discovered and invented at the University of Wyoming by Dr. Randy Lewis, in combination with genetic engineering concepts developed by the company's founder.
In May of 2006, Kraig Biocraft Laboratories signed an intellectual property licensing agreement with the University of Wyoming whereby the company obtained certain exclusive rights to use the patented and patent pending spider silk gene sequences famously developed by researchers at the University, in the Company's field of use.
At the same time, the University of Wyoming Foundation became a shareholder in the Company. "The University of Wyoming has long been at the forefront of recombinant spider silk technology," said Thompson. "The agreement with the University is the culmination of years of work to harness this exciting technology for commercial applications. We are literally thrilled to be the leader in what we believe will be a coming revolution in materials science."
In July 2006, noted genetic researcher Dr. Malcolm Fraser joined the Company as its chief outside scientific consultant.
In February 2007, the Company signed a collaborative research and intellectual property agreement with the University of Notre Dame. Pursuant to that agreement, the Company is sponsoring genetic engineering research within the University's laboratories with a primary emphasis on spider silk polymer development and production.
On September 26, 2007, Kraig Biocraft Laboratories filed its SB-2 registration statement with the Securities and Exchange Commission. On October 16, 2007, the Company's registration became effective. In late February 2008, Kraig's shares were listed on both the OTCBB and the Pink Sheets under the trading symbol: KBLB.
"To commemorate this exciting event in the company's history, we want to thank and acknowledge the many university scientists whose hard work and genius has brought recombinant DNA technology to where it is today, on the verge of a coming revolution in polymers and materials science," said Thompson. "Kraig Biocraft Laboratories is not just riding the wave, we are generating the wave."
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