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Kraig Biocraft Laboratories Secures $10 Million SEPA to Support Spider Silk Production Growth

Jan 21, 2025•over 1 year ago

Contract Type

contract

Ann Arbor

Description

Kraig Biocraft Laboratories, Inc. has secured a $10 million standby equity purchase agreement (SEPA) with YA II PN, Ltd. This agreement will provide the company with access to the working capital necessary to continue production expansion for its revolutionary recombinant spider silk fibers and materials. The SEPA is structured to allow the company to access capital over the next 36 months, providing flexibility to support the growth of spider silk commercialization.

Company Information

Company

Kraig Biocraft Laboratories

Location

2723 SOUTH STATE STREET

Ann Arbor, Michigan, United States

About

Kraig Biocraft Laboratories, Inc. (Trading Symbol: KBLB) is a fully reporting biotechnology company focused on the development and commercialization of spider silks. As a reporting company, our annual and quarterly reports to the SEC can be found on EDGAR and on this website. Our investments in genetic research are targeted for product development and innovative near-term solutions to meet the practical problems of our world. Our genetic engineering research has succeeded in developing what many considered to be the holy grail of material science: A practical and cost-effective technology for producing recombinant spider silk based fibers on an industrial scale. We are moving rapidly to commercialize of our spider silk technology, which we believe will have a significant impact on the global textiles industry. At the same time we are continuing to work in cooperation with leading laboratories to create new stronger and more flexible spider silk based fibers with potentially broad applications for consumers and industry in the multi-billion dollar marketplace for textiles and performance polymers. At Kraig, we are passionate about pioneering the research, development and commercialization of the next generation of high performance fibers based on genetic engineered spider silk. We are the world leader in our field of genetic research and product development

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