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HERNDON, Va., Aug. 2, 2013 /PRNewswire/ -- Euclid Systems Corporation today announced its acceptance by the Virginia Economic Development Partnership (VEDP) into the two-year Virginia Leaders in Export Trade (VALET) program. The VALET program provides assistance from the Commonwealth and a team of experienced international service providers help in meeting their international goals.
“Euclid is excited and honored to be included in this program,” stated Michael A Ross, Euclid President and COO. “The Company is looking forward to taking full advantage of the services provided to further capitalize on its strong international growth to date.”
Euclid manufactures the industry leading, FDA approved ‘Emerald’ brand Orthokeratology (or Ortho-K) lenses. These lenses are only worn at night while sleeping and comfortably correct myopia (near sightedness) and mild astigmatism such that no lens or vision correction is needed during the day. Additionally, research shows that the Euclid Emerald lens, when worn by children during the growing years of age 8 to 18, will retard or prevent the progression or worsening of myopia. This is gaining rapid attention in Asian populations where the incidence of myopia is in excess of 90% by age 18. Euclid currently exports the majority of its products, primarily to China and Taiwan, and is looking to expand into additional markets with the support of the VALET program.
ABOUT THE VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
The Virginia Economic Development Partnership was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 25-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade.
ABOUT EUCLID
Euclid, founded in 1995, first developed and brought to market a standardized Ortho-K lens design and manufacturing process. Euclid was the first company to apply for FDA approval, and the Emerald lens was approved by the FDA in 2004. The Emerald lens has obtained regulatory approval from the appropriate governing bodies in multiple international markets. Additionally, Euclid is involved in a number of research projects investigating corneal stabilization.
SOURCE Euclid Systems Corporation
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