Company to showcase its
newest artificial intelligence software solution, ProFound AI for 2D
Mammography, in addition to ProFound AI for Digital Breast Tomosynthesis at the
SIFEM Medical Conference in France

 

Nashua, N.H. and Lille, France –
June 13, 2019 – iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader
providing innovative cancer detection and therapy solutions, today announced
the launch of ProFound AI™ for 2D Mammography in Europe. This software is the
latest addition to

iCAD’s deep-learning, artificial
intelligence platform and follows the launch of ProFound AI™ for Digital Breast
Tomosynthesis (DBT), which was CE Marked in March 2018 and FDA cleared in
December 2018. ProFound AI for 2D Mammography and ProFound AI for DBT will both
be featured in the iCAD exhibition booth (#24) at the Société Française
d’Imagerie de la FEMme (SIFEM) medical conference from June 13-15, 2019 at the
Grand Palais in Lille, France.

 

“iCAD is at the forefront of the
fight against breast cancer. We bring powerful solutions to physicians across
Europe so women everywhere can benefit from earlier detection,” explains
Michele Debain, MBA, Sr. Director, Business Development Europe, iCAD. “Our
first ProFound AI product was for tomosynthesis; this solution was created to
help physicians overcome their workflow issues of reading extensive amounts of
data and reduce the likelihood of missing malignancies. Today, we are thrilled
to introduce our second ProFound AI product for 2D Mammography, which promises
to assist physicians in all breast screening exams, especially the challenging
dense breast cases, to bring precise detection and reduce false positives.
ProFound AI for Mammography is an extremely valuable tool for women, physicians
and all breast screening practices.”

 

ProFound AI is available for both
mammography and tomosynthesis modalities; it is a high- performance,
deep-learning, breast cancer detection and workflow solution that offers
benefits to radiologists and patients alike. ProFound AI for DBT is clinically
proven to improve cancer detection rates by 8 percent, reduce unnecessary
patient recall rates by 7.2 percent, and slash reading time for radiologists by
52.7 percent and up to 57.4 percent for dense breast 3D image analysis.1

 

“The arrival of the ProFound AI
platform has completely changed the way we read tomosynthesis cases. It is a
very powerful and extremely useful tool that improves our diagnostic
confidence; especially for subtle lesions and dense breasts,” according to Dr.
Patrick Toubiana, Radiologist, President and Cofounder at the C.S.E. Centre
Imagerie Médicale Numérique in Paris. “In addition, ProFound AI allows us to
optimize our workflow for better reading comfort and a reduction of the
interpretation time of the tomosynthesis slices. Today, ProFound AI is a real
asset in our daily practice that we could not do without.”

 

ProFound AI for 2D Mammography and
ProFound AI for DBT were designed to rapidly and accurately analyze each image
and provide radiologists with key information, such as certainty of finding
lesion and case scores, which assists in clinical decision-making and prioritizing
caseloads. Featuring the latest in deep-learning artificial intelligence, the
platform also allows for continuously improved performance via ongoing updates.

 

“The ProFound AI software platform
is the result of many years of research and development to create a
deep-learning algorithm that analyzes each image with unrivaled accuracy,”
according to Stacey Stevens, President of iCAD. “With more than 4,000 sites worldwide
to-date, the growing adoption of our technology
demonstrates iCAD’s rapidly expanding global presence and reaffirms our
company’s commitment to improving women’s health worldwide.”

 

ProFound AI for DBT was FDA
cleared, CE marked, and Health Canada licensed in 2018. ProFound AI for 2D
Mammography is pending CE Mark in the EU. For more information, visit www.icadmed.com.

 

Reference:

 

1. Hoffmeister, J. (2018). Artificial Intelligence for Digital
Breast Tomosynthesis – Reader Study Results. [White paper]. Accessed June 4,
2019 via https://www.icadmed.com/assets/dmm253-reader-studies-
results-rev-a.pdf

 

 

About iCAD, Inc.

 

Headquartered in Nashua, NH, iCAD
is a global medical technology leader providing innovative cancer detection and
therapy solutions. For more information, visit www.icadmed.com.

 

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Litigation Reform Act of 1995

Certain statements contained in
this News Release constitute “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve a number of known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking

statements. Such factors include,
but are not limited, to the Company’s ability to defend itself in litigation
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difficulties, product market acceptance, possible technological obsolescence of
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changes in Medicare or other reimbursement policies, risks relating to our
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Commission. The words “believe,”
“demonstrate,” “intend,” “expect,” “estimate,” “will,” “continue,”
“anticipate,” “likely,” “seek,” and similar expressions identify
forward-looking statements. Readers are cautioned not to place undue reliance
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these and other risks faced by iCAD, please see the disclosure contained in our
public filings with the Securities and Exchange Commission, available on the
Investors section of our website

at http://www.icadmed.com and on the SEC’s
website at http://www.sec.gov.

 

 

Contacts:

Media Inquiries:

Jessica Burns, iCAD

+1-623-203-7270

jburns@icadmed.com

 

Investor Relations:

  LifeSci Advisors, on behalf of iCAD, Inc.
  Jeremy Feffer, (212) 915-2568
jeremy@lifesciadvisors.com