iCAD Granted CE Mark Approval in Europe for PowerLook Tomo Detection 2.0 Artificial Intelligence Breast Cancer Detection Solution
Company’s
Innovative Breast Cancer Detection Product is Compatible with Hologic, GE and
Siemens Digital Breast Tomosynthesis Systems Significantly Expanding iCAD’s Global Market Opportunity.
Vienna,
Austria (March 1, 2018) – iCAD, Inc.
(NASDAQ: ICAD), a global leader in medical
technology providing innovative cancer detection and therapy solutions, today announced
receipt of CE Mark approval for PowerLook Tomo Detection 2.0, the Company’s
second deep-learning based computer aided detection solution that transforms
the way radiologists manage and interpret digital breast tomosynthesis
data. This innovative breast cancer
detection solution is compatible with Hologic, GE and Siemens systems.
PowerLook Tomo Detection 2.0 will be showcased in
the iCAD exhibition booth (Expo X1, Booth 153) during the European
Congress of Radiology 2018, taking place February 28-March 4, in Vienna, Austria, as well as in the partners’ exhibits.
“With growing demand for powerful detection and
workflow solutions leveraging Artificial Intelligence, especially to assist in
cancer detection, we are thrilled to introduce PowerLook Tomo Detection 2.0 to
the European market, in addition to making our platform compatible with leading
digital breast tomosynthesis providers, including Hologic, GE and
Siemens,” said Ken Ferry, CEO of iCAD. “This compatibility considerably
increases the market
opportunity for iCAD’s AI solutions. Most importantly, both providers and patients
alike will now have greater access to one of the most advanced breast cancer
detection solutions available in healthcare today.”
“PowerLook Tomo Detection 2.0 is a unique, high-performance concurrent read cancer
detection solution for breast tomosynthesis that delivers critical benefits to
both radiologists and their patients,” said Jeff Hoffmeister, MD, Vice President
and Medical Director at iCAD. “PowerLook Tomo Detection 2.0 is a
highly accurate product, delivering an increased cancer detection rate and a
low false positive rate that should help increase the confidence of
radiologists, while also driving improvements in reading workflow.”
Using a unique algorithm that is trained to
detect malignancies and determine the probability of cases having malignant
findings, PowerLook Tomo Detection 2.0 provides radiologists with a “certainty
of finding” score for each detected lesion, which represents the algorithm’s confidence
that the detected soft tissue densities (masses, architectural distortions and asymmetries) and
calcifications are malignant.
About iCAD, Inc.
Headquartered in Nashua, N.H.,
iCAD is a global leader in medical technology providing innovative cancer
detection and therapy solutions. For more information, visit www.icadmed.com.
“Safe
Harbor” Statement under the Private Securities 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 matters, to achieve business and strategic objectives, the risks
of uncertainty of patent protection, the impact of supply and manufacturing
constraints or difficulties, uncertainty of future sales levels, protection of
patents and other proprietary rights,
product market acceptance, possible technological obsolescence of
products, increased competition, litigation and/or government regulation,
changes in Medicare or other reimbursement policies, risks relating to our
existing and future debt obligations, competitive factors, the effects of a
decline in the economy or markets served by the Company; and other risks
detailed in the Company’s filings with the Securities and Exchange 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
on those forward-looking statements, which speak only as of the date the
statement was made. The Company is under no obligation to provide any updates
to any information contained in this release. For additional disclosure
regarding 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:
ARPR
Erin Bocherer, (855)-300-8209
or
Investor Relations:
LifeSci Advisors
Jeremy Feffer, (212)-915-2568