iCAD Showcases Innovative Breast Health Solutions Platform at National Consortium of Breast Centers (NCoBC) 31st Annual Conference
iCAD’s
award winning portfolio of breast health solutions to be featured at inaugural
Pink Paradigm Summit, uniting clinical and advocacy leadership
NASHUA,
N.H., March 10, 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 innovative
breast health solutions at the National Consortium of Breast Centers (NCoBC)
Annual Conference in Las Vegas, NV from March 11-16 in the iCAD booth (#203).
iCAD’s breast health
solutions, including ProFound
AI® for Digital Breast Tomosynthesis (DBT),
or 3D mammography, will also be featured at the first-ever The New Pink Paradigm™ Summit, taking place on Sunday, March 13. At the event,
clinical leadership and advocacy organizations will join forces to improve the
standards of breast care and breast cancer survivorship. In a presentation titled, “Why AI?” from 2:45-3:30 pm PST, Mark Traill, MD,
University of Michigan Health-West, will discuss the clinical benefits of
iCAD’s portfolio of technologies for breast cancer detection and risk
assessment.
“These events present
unique and exciting opportunities for us to connect with both clinical leaders
and advocacy influencers, and to participate in a conversation regarding leading-edge
technology that is changing the paradigm in breast care,” said Stacey Stevens,
President and CEO of iCAD, Inc. “iCAD’s portfolio of award-winning breast
health solutions offers unmatched performance and clinical benefits for both
physicians and patients, and we look forward to meeting with other influential
experts and advocacy groups who are equally as passionate about enhancing
patient care and improving outcomes for women.”
iCAD’s suite of breast
health solutions includes ProFound AI, which became the first AI software for
DBT to be FDA cleared in 2018, PowerLook® Breast Density Assessment, the
world’s first and only multi-vendor deep learning algorithm for standardizing
breast density assessments using synthesized 2D images[i], 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.
“AI is revolutionizing many facets of
healthcare, including breast cancer screening, particularly as DBT grows in adoption
and the medical community continues to discover the importance of breast
density assessments and risk stratification in breast cancer screening,” said
Dr. Traill. “Only iCAD’s portfolio of breast health solutions offers the
ability to provide clinicians with a broader view of each individual patient’s
case, along with her breast density and short-term risk, empowering clinicians
with crucial information that can help them tailor screening regimens for women
based on their individual risk.”
Built with the latest in deep-learning
AI technology, ProFound AI is a high-performing cancer detection solution that
rapidly and accurately analyzes each DBT image, detecting both malignant soft
tissue densities and calcifications. Used concurrently when reading mammography
exams, Profound AI produces Certainty of Finding lesion and Case Scores, which
represent the algorithm’s confidence that a detection or case is malignant. Profound
AI is clinically proven to improve radiologists’ sensitivity by 8 percent,
reduce false positives and unnecessary patient recall rates by 7.2 percent, and
slash reading time for radiologists by 52.7 percent.[ii] The latest version of the technology offers up
to a 10% incremental improvement in specificity performance while maintaining
an industry-leading high sensitivity level.[iii]
“iCAD’s
technology is truly transforming breast cancer screening while also enhancing
both the patient and radiologist experience,” Stevens added. “With thousands of installations worldwide, our technologies offer intuitive,
enterprise-wide solutions with multi-vendor flexibility that are clinically
proven to improve workflow in any reading environment. We look forward to
sharing our world-class portfolio with the NCoBC community this year.”
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
https://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] Based
on publicly available data as of September 2021. For GE and Hologic only. Uses
2D synthesized images.
[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]
iCAD® data on file.