Kraig Biocraft Laboratories In Stock Price, News & Analysis

Kraig Biocraft Laboratories (KBLB) has selected a high-quality garment manufacturer, in collaboration with its partner Kings Group, to produce its first apparel line using Spydasilk's^TM exclusive spider silk materials. The chosen manufacturer has over 20 years of experience and strong connections within Vietnam's textile supply chain, enabling it to deliver on the vision for the brand. Kraig Labs is simultaneously developing a product launch plan that includes marketing and distribution strategies, with expectations for further updates on production and market advancements.

Kraig Labs has successfully completed its third-party pilot production of recombinant spider silk, enabling the critical next phases of its business plan. The program exceeded expectations, leading to negotiations for a five-year production contract. Key management reviewed pilot production in Vietnam, with plans to produce metric tons of spider silk. The company aims to enhance production quality and is entering a phase of rapid production expansion in collaboration with subcontractors. Updates on production and development are expected soon.

Kraig Biocraft Laboratories (OTCQB: KBLB) announces a senior management visit to Vietnam for production expansion and market development. Key activities include meetings with government officials to secure additional lands and agreements for silk production, potentially scaling to 200 metric tons annually. The COO, Jon Rice, will also finalize launching the Spydasilk brand with joint venture partners. The company is enhancing its Vietnamese subsidiary, Prodigy Textiles, through advanced training and technology transfers to improve production capabilities.

Kraig Biocraft Laboratories (OTCQB: KBLB) has announced its first sample shipment of recombinant spider silk fibers for biomedical applications, following increased demand over the past two quarters. The company utilizes genetically enhanced silkworms to produce spider silk, combining its properties with established silk supply chains. With enhanced production in Vietnam, Kraig Labs aims to supply R&D samples to the medical community. COO Jon Rice noted rising demand and sees potential for significant growth in the biomedical space, which may require FDA approval for further applications.

Kraig Biocraft Laboratories (KBLB) has enhanced its production capabilities by introducing a new vendor quality assurance program to source high-quality mulberry for spider silk production. This initiative aims to support the increasing demand for its eco-friendly materials. The company reports that 85% of its silkworm output will be utilized for finished yarn production, primarily for its Spydasilk brand. With strengthened supplier relationships, Kraig Labs plans to expand its production footprint, ensuring sustainability and efficiency in meeting future material demands.

Kraig Biocraft Laboratories (OTCQB: KBLB) has commenced its first production run for Q2 2022 of recombinant spider silk. The company's subsidiary, Prodigy Textiles, has significantly increased testing throughput, nearly tenfold compared to Q1 2022. This achievement sets a new production capacity baseline, with plans in place to expand beyond current factory limits by Q2 2023. COO Jon Rice highlighted the success of the investments made in 2021, anticipating future updates on Prodigy and the commercialization of eco-friendly spider silk.

Kraig Biocraft Laboratories (OTCQB: KBLB) has strengthened its financial position by raising a total of $8 million from YAII PN, Ltd over the past 16 months, including a recent $1.5 million installment. The funds are being utilized to enhance production capabilities, including the construction of custom rearing rooms, automated production equipment, and a molecular biology lab for quality control. COO Jon Rice emphasized that Prodigy Textiles is operational, focusing on eco-friendly spider silk for global textiles.

Kraig Biocraft Laboratories (OTCQB: KBLB) has reported major advancements at its Vietnam production facility, Prodigy Textiles. The company successfully completed its first complete genetic screening of fifth-generation silkworms, now fully transitioning screening technology to Vietnam. This achievement allows for a significant scalability increase in silk production, with targets projected to rise by 20-50 times current levels. Furthermore, the company will commence harvesting its onsite mulberry supply, critical for expanding spider silk analog fiber production.

Kraig Biocraft Laboratories (OTCQB: KBLB) has announced that the USPTO published two significant patent applications expanding its recombinant spider silk technologies. These applications, filed in July 2021, stem from provisional patents filed in July 2020. The first focuses on synthesizing high molecular weight spider silk proteins using Inteins, while the second explores co-producing non-fibrous proteins through sericin modification. This innovative approach could reduce production costs for therapeutic proteins and enhance commercial viability.