iCAD Reports Strong Momentum of ProFound AI™, its Artificial Intelligence-Based Solution for Digital Breast Tomosynthesis
NASHUA,
N.H., (March 14, 2019) – iCAD,
Inc. (NASDAQ: ICAD), a global medical technology leader
providing innovative cancer detection and therapy solutions, today reported
strong adoption of its latest deep-learning, cancer detection software solution
for digital breast tomosynthesis (DBT), ProFound AI™. The powerful solution
built on artificial intelligence (AI) delivers critical benefits to
radiologists, their facilities and patients in identifying cancer earlier.
“ProFound AI for DBT is like having another radiologist
right there in the reading room with you,” said Randy Hicks, M.D., MBA, radiologist, co-owner and CEO at Regional Medical
Imaging. “It’s software you can trust to help diagnose cancers and improve
workflow, keeping physicians on track and enabling them to read cases more
quickly.”
Since the product was launched in the United States in
December 2018, ProFound AI has been adopted by a significant number of high-profile
hospitals and imaging centers in all major geographic areas of the country,
demonstrating the strong need for such revolutionary
technology.
“We are very
pleased with the preliminary success and strong adoption of
ProFound AI among some of the top luminary
sites in the U.S.,” said Stacey Stevens, executive
vice president and chief strategy and commercial officer at iCAD. “This strong
initial adoption of ProFound AI now allows us to create powerful reference
sites, customer testimonials and educational events that will further
accelerate growth of this unprecedented solution. As the
only FDA cleared provider of AI technology for digital breast tomosynthesis, we
look forward to driving continued adoption, ultimately transforming breast
cancer detection and improving patient lives.”
ProFound
AI is a high-performance, deep-learning, cancer detection and workflow solution
for DBT delivering critical benefits to radiologists, their facilities, and
their patients through the improvement of cancer detection rates by an
average of 8 percent and decreasing unnecessary patient recall rates by an
average of 7 percent. The new technology has been trained to detect malignant
soft-tissue densities and calcifications. It also provides radiologists with
scoring information representing the likelihood that a detection or case is
malignant based on the large dataset of clinical images used to train the
algorithm.
“Following our
recent implementation of ProFound AI from iCAD, we have already recognized the
value and benefits it is providing to us in reading our DBT studies. Our
radiologists appreciate this compelling technology and the high sensitivity and
specificity it delivers in identifying lesion markings. It is imperative
for us to continue providing the community with the best technology available to
detect breast cancer, and our use of ProFound AI is indicative of this,” said
Harold Tanenbaum, M.D., radiologist, medical director Marine Park Radiology, NY.
In addition to
improving clinical performance related to breast cancer detection and false
positive rates, study results showed that ProFound AI can reduce radiologists’
reading time by more than 50 percent on average. An increase in reading time
has been a significant challenge for radiologists when moving from 2D to 3D
mammography.
“We
are proud to be using ProFound AI for DBT to assist our radiology team in
providing improved quality patient care. Timing is critical for patients with
hidden breast cancers, and the combination of 3D mammography and iCAD’s ProFound
AI software could be life saving,” said John Ervin, imaging director for Hunt
Regional Healthcare.
ProFound AI is currently available for use with leading DBT
systems in the U.S., Canada and Europe. For more information about the solution and its benefits, visit www.icadmed.com.
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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Contact:
Media Inquiries:
ARPR, on behalf of iCAD, Inc.
Paul Barren, (855) 300-8209
Investor Relations:
LifeSci Advisors
Jeremy Feffer, (212) 915-2568