Kraig Biocraft Laboratories Inc. announced that it has secured $4 million dollars of expansion capital. The financing significantly strengthens the company’s balance sheet and supports its progress in the commercialization and sale of recombinant spider silk.
“This is a major financial milestone for Kraig. For many years we have operated on a shoestring budget, building a solid foundation with our spider silk production system. We are now prepared to reap the rewards of that careful investment with opportunities to put this capital to work building materials, products and brands,” says CEO and founder, Kim Thompson.
Kraig Biocraft Laboratories is a developer of genetically engineered spider silk based fiber technologies.