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iCAD to Showcase Leading Breast Health Solutions Suite Including Expanded ProFound AI™ Platform at RSNA Annual Meeting

December 2, 2019 GMT

NASHUA, N.H. and CHICAGO, Dec. 02, 2019 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced it will showcase its Breast Health Solutions suite including the expanded ProFound AI™ platform in the iCAD exhibition booths (#3929 in the south hall and #10716 in the north hall) at the Radiological Society of North America (RSNA) Annual Meeting in Chicago, December 1-6, 2019.

iCAD’s Breast Health Solutions suite includes ProFound AI for Digital Breast Tomosynthesis (DBT), the first artificial intelligence (AI) software for DBT to be FDA-cleared, as well as software solutions for 2D mammography and breast density. During the meeting, the Company will also unveil its vision for future technologies, including solutions that will enable clinicians to more easily consider patients’ prior images* and prospective breast cancer risk assessment over time.*

“ProFound AI has extensive potential in the realm of clinical AI – and in the future it will offer a more holistic clinical approach that can provide clinicians with a broader view of each individual patient’s case, history, and short-term risk,” said Michael Klein, Chairman and CEO of iCAD. “Today, ProFound AI offers clinically-proven improvements in sensitivity, specificity, time-savings and recall rates, but our panoramic vision for the future will include innovative tools that allow physicians to correlate findings across time and provide more tailored and personalized patient care.”

Trained with one of the largest available DBT datasets, ProFound AI rapidly and accurately analyzes each DBT image, or slice, and provides radiologists with key information, such as Certainty of Finding lesion and Case Scores, which assists in clinical decision-making and improving reading efficiency. Featuring the latest in deep-learning artificial intelligence, the algorithm allows for continuously improved performance via ongoing updates.

Clinical data from a large reader study involving ProFound AI for DBT were recently published in Radiology: Artificial Intelligence. According to study findings, ProFound AI for DBT improved radiologist sensitivity by 8 percent, reduced unnecessary patient recall rates by 7.2 percent, and slashed reading time for radiologists by 52.7 percent.1 Additionally, ProFound AI cut reading time by up to 57.4 percent for radiologists reading cases of women with dense breasts.2

Results from a subgroup analysis of this reader study examining improvement in accuracy and reading times for traditional 2D mammography will be presented during the meeting on Sunday, December 1 by Emily F. Conant, M.D., professor and chief of breast imaging from the Department of Radiology at the Perelman School of Medicine at the University of Pennsylvania in Philadelphia. According to study findings, ProFound AI improved sensitivity and specificity and reduced reading time for radiologists reading DBT with digital or with synthetic 2D.

“Our reader study demonstrated that the concurrent use of AI improved sensitivity, specificity and reading time when reading DBT with digital or synthetic 2D images,” according to Dr. Conant, principal investigator and lead author of the study. “These findings show improved cancer detection benefiting our patients as well as improved efficiency important for radiologists.”

Events and clinical presentations throughout the meeting will feature experts who can discuss clinical perspectives and experience using ProFound AI in daily practice:

-- Monday, December 2: An investor luncheon and an evening reception, “AI After Dark,” will feature leading experts who will provide real-world experience and clinical perspectives in breast health solutions powered by artificial intelligence. The investor luncheon will be webcast and available online via this link. -- Tuesday, December 3: Innovation Theater Presentation, “Advances in AI for personalized breast cancer screening using image-based short-term risk assessment,” will be presented by Mikael Eriksson, PhD, Karolinska Institutet. -- Wednesday, December 4: AI Theater Presentation, “Advancements in Mammography for Cancer Detection and Risk Prediction” will be presented by Senthil Periaswamy, PhD, Chief Research Scientist, VP of Clinical Innovation, iCAD, Inc.

Leading experts will also be available in the main iCAD booth (#3929 in the south hall) daily throughout the meeting to offer live demonstrations with the technology. ProFound AI will also be featured in major PACS company exhibits at the meeting.

ProFound AI for DBT was FDA-cleared, CE marked, and Health Canada licensed in 2018. ProFound AI for 2D Mammography was CE marked in July 2019. For more information, visit www.icadmed.com.

* Not yet commercially available

References:

1. 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 2. 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

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.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995Certain 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.

Contacts:Media inquiries:Jessica Burns, iCAD +1-201-423-4492 jburns@icadmed.com

Investor Relations:LifeSci Advisors, on behalf of iCAD, Inc.Jeremy Feffer, +1-212-915-2568 jeremy@lifesciadvisors.com