iCAD Highlights Breast Health AI Platform at the 2022 Healthcare Information and Management Systems Society (HIMSS) Meeting
World-leading breast cancer AI
solutions featured for demonstration in iCAD booth
NASHUA,
N.H., March 14, 2022 — iCAD, Inc. (NASDAQ: ICAD), a global medical technology
leader providing innovative cancer detection and therapy solutions, today
announced it will be showcasing its portfolio of Breast AI solutions, including ProFound
AI® for Digital Breast Tomosynthesis (DBT) in the iCAD booth (#4000) at the 2022 Healthcare Information and
Management Systems Society (HIMSS) Global Health Conference & Exhibition in
Orlando, FL, taking place March 14-18, 2022.
“One of the most exciting developments in medicine is the
use of artificial intelligence (AI) to detect, diagnose and improve efficacy of
treatment,” said Stacey Stevens, President and CEO of iCAD, Inc. “As the global
leader in breast imaging AI, iCAD is playing an integral role. Our award-winning
suite of Breast AI solutions for cancer detection, density assessment and risk
evaluation help to significantly improve reading workflow while optimizing interoperability
requirements with multi-vendor integrations. With our deep learning algorithms
deployable on VMware vSphere and NVIDIA AI Enterprise, hospitals and centers can
more effectively manage and scale our leading-edge breast health solutions.”
Experts from iCAD and NVIDIA will discuss how
iCAD’s flexible deployment options empower health systems to maximize their
investment with the NVIDIA AI Enterprise software suite, combined
with NVIDIA accelerated computing and VMware’s virtual environment, during a Solution
Showcase presentation on March 15th at 11am EDT in the VMware HIMSS booth
theater (booth #2121). Best practices for integrating AI
into the IT environment, along with VMware and NVIDIA technology, will be
discussed by the following experts:
- – Laurence Yudkovitch, Technical
Product Manager, AI at iCAD, Inc. - – Josh Dagenhart, AI Solutions
Architect Manager at iCAD, Inc. - – Brad Genereaux, Medical Imaging
Alliance Manager at NVIDIA - – Bill Russell, CEO and Founder of
Health Lyrics, Founder and Host of This Week in Health IT
“Integrating AI solutions into existing infrastructure is
complex – it is estimated that over 50% of AI initiatives in hospitals don’t
make it into production,” said Brad Genereaux, Medical Imaging Alliance Manager
at NVIDIA. “Paired with iCAD’s solutions, NVIDIA AI Enterprise streamlines the
integration of AI into existing infrastructure, enabling IT administrators to
manage all applications in one central setting to maximize facilities’
investments and make the adoption of new diagnostics, treatments and technologies
more affordable and accessible in the fight against cancer.”
“At iCAD, we know what it takes to create a winning AI
solution that not only improves patient outcomes, but also optimizes technology
deployments and total cost of ownership. Our AI clinical products enhance IT
infrastructures and are helping to transform breast cancer screening and
detection by improving the patient and the radiologist experience,” said
Stevens. “In addition, ProFound AI is unrivaled in improving reading accuracy and
decreasing reading time while helping radiologists detect cancers earlier, with
about 2X the improvement[i]
in clinical performance compared to leading competitors.”
iCAD’s Breast AI Solution suite includes ProFound AI for
cancer detection, which is available for 2D and 3D mammography, PowerLook®
Breast Density Assessment, which aids in accurate and consistent density-based
stratification and reporting, and ProFound AI® Risk, the world’s first and only
clinical decision support tool that provides an accurate short-term, breast
cancer risk estimation that is truly personalized for each woman based only on
a screening mammogram.
The first AI cancer detection software for DBT to be cleared
by the FDA for superior performance, ProFound AI can reduce radiologists’
reading time by an average of 52.7 percent[ii]; for cases with dense breasts, it can
reduce reading time by an average of 57.4 percent.[iii]
It is also clinically proven to improve radiologists’ sensitivity by 8 percent
and reduce unnecessary patient recall rates by 7.2 percent on average.ii
PowerLook Density Assessment software enables clinicians to
automate breast density assessment accurately and reliably, removing the
challenges of subjectivity. Built with the latest in deep-learning and
compatible with 2D and 3D mammography imaging systems from multiple vendors,
this advanced solution identifies the patient’s anatomy, segments the breast,
then measures adipose and fibroglandular tissue and its dispersion to determine
the density category in alignment with BI-RADS® 5th Edition lexicon.
ProFound AI Risk offers the ability to calculate individualized
short-term risk estimation using either 2D and 3D mammography, with greater
accuracy compared to traditionally used risk models.[iv],[v]
The latest version of the software was specifically designed to factor in
racial and ethnic backgrounds, as well as clinically relevant global screening
guidelines and more than 15 country incidence and mortality reference tables,
for alignment with that country’s general population.
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 and www.xoftinc.com.
Forward-Looking Statements
Certain
statements contained in this News Release constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements about the expected benefits of ProFound AI®, the
benefits of the Company’s products, external factors affecting the market for
our products, behavior of clients and prospective clients, and future prospects
for the Company’s technology platforms and products. 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 achieve
business and strategic objectives, the willingness of patients to undergo
mammography screening in light of risks of potential exposure to Covid-19,
whether mammography screening will be treated as an essential procedure,
whether ProFound AI will improve reading efficiency, improve specificity and
sensitivity, reduce false positives and otherwise prove to be more beneficial
for patients and clinicians, the impact of supply and manufacturing constraints
or difficulties on our ability to fulfill our orders, uncertainty of future
sales levels, to defend itself in litigation matters, protection of patents and
other proprietary rights, product market acceptance, possible technological
obsolescence of products, increased competition, 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.
Media Inquiries:
Jessica Burns, iCAD
+1-201-423-4492
Investor Inquiries:
iCAD Investor Relations
[i] https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpmn/pmn.cfm.
Accessed 1-19-22. FDA 510K submissions K182373, K201019, K193229.
[ii]
Conant, E et al. (2019). Improving Accuracy and Efficiency with Concurrent Use
of Artificial Intelligence for Digital Breast Tomosynthesis. Radiology:
Artificial Intelligence. 1 (4). Accessed via
https://pubs.rsna.org/doi/10.1148/ryai.2019180096.
[iii] Hoffmeister,
J. (2018). Artificial Intelligence for Digital Breast Tomosynthesis – Reader
Study Results. [White paper]. Accessed via
https://www.icadmed.com/assets/dmm253-reader-studies-results-rev-a.pdf
[iv] Eriksson
M, Czene K, Strand F et al. Identification of Women at High Risk of Breast
Cancer Who Need Supplemental Screening. Radiology. 2020 Sept 8.
[v]
iCAD data on file.