iCAD's Xoft System Selected as a Popular Science Magazine “Best of What's New” Award Winner for 2015

One-day Targeted Radiation Treatment for Early-stage Breast Cancer Honored as a Top Health Innovation

NASHUA, NH – November 18, 2015 – iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapy for the early identification and treatment of cancer, today announced that the Xoft® Axxent® Electronic Brachytherapy (eBx®) System® for the treatment of early-stage breast cancer using intraoperative radiation therapy (IORT) was selected as a winner in the health category of Popular Science magazine’s “Best of What’s New” awards for 2015. The award, selected by the editors of Popular Science, recognizes products and technologies that represent innovations that will shape the future.

IORT is a procedure in which early-stage breast cancer is treated with just one dose of targeted radiation. Traditional breast cancer treatment involves daily radiation five days per week, for six to eight weeks. IORT allows radiation oncologists and breast cancer surgeons to work together to deliver a full dose of radiation at the time of lumpectomy for eligible patients. A growing body of favorable clinical data supports the use of IORT in candidates meeting specific selection criteria. iCAD is currently conducting one of the largest IORT clinical studies to date using the Xoft System, which compares Xoft IORT to traditional external beam radiation therapy.

“The Xoft System and IORT are revolutionizing cancer treatment, and we are honored that the Xoft System was selected to receive this esteemed award,” said Ken Ferry, CEO of iCAD. “We hope this recognition will help more patients who are appropriate candidates for IORT avoid unnecessary radiation treatments administered daily over six to eight weeks, which can be detrimental to patient health and disruptive to their lives.”

After the lumpectomy procedure, the Xoft System’s proprietary miniature x-ray source is inserted into a flexible balloon-shaped applicator, which is then temporarily placed inside the lumpectomy cavity. The miniature x-ray source delivers one concentrated dose of radiation directly to the lumpectomy cavity, targeting cancer cells while sparing healthy surrounding tissue such as the heart, lungs, and ribs.

IORT offers a number of potential patient benefits, including convenience, lower costs, fewer side effects, and shorter treatment times compared to traditional radiation therapy. Most patients treated with IORT are able to return to their normal daily activities, including going to work and family activities, within days rather than weeks.

“IORT is a major medical advancement that may also help select patients avoid the substantial financial and emotional burden typically associated with traditional treatment,” said Mr. Ferry. “When patients meeting selection criteria are given the choice, they typically prefer a shorter course of radiation rather than being required to make daily visits to a treatment center for a significant number of weeks.”

“The ‘Best of What’s New’ awards honor the innovations that surprise and amaze us—those that challenge our view of what’s possible in the future,” said Cliff Ransom, editor-in-chief of Popular Science. “The award is Popular Science’s top prize, and the 100 winners—chosen from among thousands of nominees—are each a revolution in their respective fields.”

More than 50 leading healthcare facilities around the world have adopted Xoft IORT and have successfully treated more than 2,000 patients. IORT has also been included in the Cleveland Clinic’s list of “Top 10 Medical Innovations for 2015.”

The Xoft System is FDA-cleared, CE marked and licensed in Canada for the treatment of cancer anywhere in the body, including non-melanoma skin cancer, gynecological cancers and early-stage breast cancer. Candidates for IORT with the Xoft System should meet specific selection criteria and be treated under IRB-approved protocols to ensure they are treated in accordance with all federal, institutional and ethical guidelines. For more information about the Xoft System and IORT, visit www.xoftinc.com.

About Xoft Axxent Electronic Brachytherapy System

The Xoft System is an isotope-free radiation treatment cleared by the U.S. Food and Drug Administration and CE marked in the EU for use anywhere in the body, including for the treatment of early-stage breast cancer, gynecological cancers and non-melanoma skin cancer. It utilizes a proprietary miniaturized x-ray as the radiation source that delivers precise treatment directly to cancerous areas while sparing healthy tissue and organs. The Xoft System requires only minimal shielding and therefore does not require room redesign or construction investment. Minimal shielding also allows medical personnel to remain in the room with the patient during treatment. The mobility of the Xoft System makes it easy to treat patients at multiple locations and to easily store the system when not in use. Xoft is a wholly owned subsidiary of iCAD, Inc. For more information about Xoft visit www.xoftinc.com, like us on Facebook or follow us on Twitter at @xofticad.

About iCAD, Inc.

iCAD delivers innovative cancer detection and radiation therapy solutions and services that enable clinicians to find and treat cancers earlier and faster while improving patient outcomes. iCAD offers a comprehensive range of upgradeable computer aided detection (CAD) and workflow solutions to support rapid and accurate detection of breast, prostate and colorectal cancers. iCAD’s Xoft® Axxent® Electronic Brachytherapy (eBx®) System® is a painless, non-invasive technology that delivers high dose rate, low energy radiation, which targets cancer while minimizing exposure to surrounding healthy tissue. The Xoft System is FDA cleared and CE marked for use anywhere in the body, including treatment of non-melanoma skin cancer, early-stage breast cancer and gynecological cancers. The comprehensive iCAD technology platforms include advanced hardware and software as well as management services designed to support cancer detection and radiation therapy treatments. For more information, visit or www.icadmed.com or www.xoftinc.com.

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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, the impact of supply and manufacturing constraints or difficulties, 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.

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