LANSING, Mich., March 18, 2008 (PRIME NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCBB:KBLB) announced today that it has filed a provisional patent application describing the invention of a number of protein molecules. Also claimed in the application are the artificial DNA sequences which code for these polymers. The application, filed with the U.S. Patent and Trade Mark office in late February, additionally claims a large number of composite fibers which incorporate one or more of the artificial protein molecules.
"These polymers were specifically designed for use as the primary constituents of high performance fibers. Our goal is to create new composites for use in the rapidly growing technical fibers market," said Kim Thompson, Kraig's CEO.
The market for technical fibers was estimated at $92.8 billion in 2007. It is projected to grow to $127 billion by 2010 (an average of 10% growth per year).
"These new polymers and composites were inspired by our continuing work with spider silk DNA," continued Thompson. "What is exciting for the technical fibers industry is the tremendous potential of these polymers to satisfy the growing need for new materials with high strength to weight ratios. We believe that the technology disclosed in our patent application will create the foundation for further advances in the high performance fibers marketplace."
Copies of KBLB's latest financial reports and SEC filings are available on the EDGAR system and on the Company's web site: www.KraigLabs.com
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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," "forecasts," "estimates", "develops", "researching'" "research," "goal," "potential" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals should all be considered forward-looking statements. 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. Management cautions that its ability to further its research, and create commercially-viable products may be affected by the competitive environment, the Company's financial condition and its ability to raise sufficient capital to meet the financial obligations of its business plan and to fund its continuing operations.