iCAD to Host 2nd Annual Virtual Investor Webinar on Company’s Innovative Solutions for Cancer Detection and Treatment

Leading clinical and administrative experts to discuss how leveraging iCAD’s Breast Health Solutions and the Xoft System can enhance clinical efficiency and improve outcomes for patients

Webinar taking place on Thursday, November 18 from 3:00 to 4:30 PM ET

NASHUA, N.H., Nov. 11, 2021 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced it will host its 2^nd annual virtual investor webinar, featuring leading clinical and administrative experts who will share unique perspectives on iCAD’s innovative cancer detection and treatment technologies, on Thursday, November 18, 2021, from 3:00 to 4:30 PM Eastern Time. To register for the event, please visit this link.

“Our virtual investor webinar was incredibly well-received last year, and we look forward to making this an annual event where we can connect the investment community with leading experts who can provide unique viewpoints on the performance superiority, productivity yields, and broad healthcare economic value proposition iCAD's technology offers,” according to Stacey Stevens, President of iCAD, Inc. “With a robust portfolio of advanced technologies for the detection and treatment of cancers that continues to improve each year, iCAD’s unique solutions enhance clinical efficiency across the entire continuum of breast health care, from screening and diagnosis through treatment, offering economic benefits to customers and ultimately improving outcomes for patients.”

The following leading experts will be featured during the webinar:

• Angela Fried, MD, Director of Breast Imaging, SimonMed Imaging
• Sally Grady, Director, Kettering Breast Evaluation Centers, Kettering Health
• Meghan Musser, DO, Radiologist, Kettering Health
• Matt Dewey, Chief Information Officer, Wake Radiology
• Sidney P. Smith, MD, Dermatologist, Chief Executive Officer, Georgia Skin and Cancer Clinic
  

The event, which will be moderated by Michael Klein, Chairman and CEO of iCAD, Inc., Stacey Stevens, President of iCAD, Inc., and Jeffrey Sirek, Chief Commercial Officer of iCAD, Inc., will feature a roundtable discussion on iCAD’s Breast Health Solutions, including ProFound^® AI, the world’s first artificial intelligence (AI) software application trained using deep-learning technology on digital breast tomosynthesis (DBT) images to be FDA cleared. ProFound AI is a high-performance, deep-learning workflow solution trained to detect malignant soft-tissue densities and calcifications. ProFound AI for DBT offers clinically proven time-savings benefits to radiologists, reducing reading time by 52.7 percent, while also improving radiologist sensitivity by 8 percent, and reducing false positives and unnecessary patient recall rates by 7.2 percent.ⁱ

“We recently updated our breast screening technology at our facility, and ProFound AI is the icing on the cake,” said Sally Grady, Director, Kettering Breast Evaluation Centers, Kettering Health. “We looked at other AI technologies, but have ultimately found them to be like smoke and mirrors compared to ProFound AI. A game-changing technology, ProFound AI has empowered us to offer world-class, personalized patient care. It is light years ahead of other technologies, which simply cannot measure up. I believe that patients without access to ProFound AI are at a disservice. It has helped make our breast screening program one of the best – not only in the state, but also the world.”

ProFound AI rapidly analyzes each tomosynthesis image, detecting malignant soft tissue densities with unrivaled accuracy. Built with the latest in deep-learning technology, it provides radiologists with crucial information, such as Certainty of Finding and Case Scores, which are relative scores that represent the algorithm’s confidence that a detection or case is malignant.

“Other AI technologies simply do not deliver the level of performance, speed and accuracy that ProFound AI offers,” according to Meghan Musser, DO, Radiologist, Kettering Health. “Additionally, a unique value of ProFound AI is its ability to detect small or subtle lesions, such as invasive lobular cancers. I believe that every woman deserves to have access to this technology, as it can be a critical tool in overcoming healthcare disparities. ProFound AI is an integral part of our workflow that is enhancing our ability to personalize breast cancer screening, and I am so happy that this technology is now available to every patient across our network of facilities.”

“After a year of using it, I’ve come to an eye-opening realization: ProFound AI is looking at things that we clinicians don’t necessarily recognize as signs of cancer,” said Angela Fried, MD, Director of Breast Imaging, SimonMed Imaging. “For example, I have seen this technology identify undetectable breast cancer cases one year earlier. We’ve really gotten to trust it, and I am confident that more of those subtle, obscured lesions will be picked up earlier because of this.”

The latest version of ProFound AI, which was cleared by the FDA in March 2021, offers up to a 10 percent incremental improvement in specificity performance while maintaining an industry high sensitivity level, and up to 40 percent faster processing over previous versions of the technology. With thousands of installations worldwide, ProFound AI is compatible with multiple vendors and easily integrates into the diagnostic process.

“As technology is advancing and becoming a more integral part of our day-to-day workflow, partnering with organizations that provide a clear advantage in AI technologies, like iCAD, has been a critical focus for our facility in recent years,” according to Matt Dewey, Chief Information Officer, Wake Radiology. “We have done a thorough evaluation of all of the other available AI technologies for breast imaging, but ultimately we found ProFound AI to be the best solution. With its multi-vendor flexibility, ProFound AI seamlessly integrated into our system and clinical workflow.”

The event will also feature a live question and answer session with Sidney P. Smith, MD, Dermatologist, Chief Executive Officer, Georgia Skin and Cancer Clinic, who will discuss the advantages of the Xoft^® Axxent^® Electronic Brachytherapy (eBx^®) System^® for the treatment of nonmelanoma skin cancer (NMSC). The Xoft System is FDA cleared, CE marked, and licensed in a growing number of countries for the treatment of cancer anywhere in the body, including early-stage breast cancer, NMSC, and gynecological cancers. Utilizing the world’s smallest x-ray source, the Xoft System delivers targeted radiation therapy directly to tumor cells, while sparing healthy tissue. For the treatment of NMSC, Xoft Skin eBx offers an effective, non-surgical, convenient treatment option with excellent clinical and cosmetic results for appropriately selected patients, which can be completed in a series of short office visits.

“We recently decided to adopt the Xoft System because it is a clinically proven treatment option for NMSC that offers patients the ability to complete a course of therapy in fewer treatments, compared to alternative treatments,” said Dr. Smith. “While Mohs surgery certainly has a high cure rate, there are some patients for whom Xoft Skin eBx may be more suitable. For example, patients who are on blood thinners, or who have lesions in difficult-to-treat areas, such as the face, head, or neck. Patients with multiple NMSC lesions may also just reach a point of excision fatigue, and in these cases, they may prefer Xoft skin eBx, as it offers a painless, noninvasive approach to treatment, which yields excellent clinical and cosmetic results.”

While Mohs surgery is considered to be the standard of care for NMSC treatment, for some patients, surgery is not an option or a preference. With the Xoft System, painless, scar-free treatment of NMSC is possible with skin eBx, a form of high dose rate, low energy radiation therapy delivered in minutes over a short series of office visits. Xoft Skin eBx is particularly ideal in treating NMSC lesions in anatomically challenging locations, such as the face, scalp, nose, ears, arms and legs, as well as areas prone to difficulties in wound healing. Skin eBx may also be the preferred option for patients who are not surgical candidates due to medical comorbidities, or patients with higher-risk lesions requiring adjunct therapy to surgery.

“Our Xoft Skin eBx business is currently experiencing an exciting resurgence of new growth over the last year, as our new turn-key oncology service model is paving the way for more dermatology practices nationwide to more easily access this leading-edge treatment, with no need to purchase equipment, no upfront investment, no staff to hire, or annual equipment service contract required,” added Stevens. “iCAD’s technologies are expertly engineered to optimize operational efficiency, clinician confidence and patient outcomes, and our commitment to these solutions is driven by the valuable benefits they offer to physicians, facilities, and patients.”

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 1995
Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. For example, when the Company discusses the benefits of the Company’s products, and clinical plans and updates, it is using forward-looking statements. 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, increase sales and acceptance of products, adoption by CMS of a new payment model, and that such model will prove beneficial to the Company, which is not assured, implement expansion plans, 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, ability to successfully defend itself in litigation matters, 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; the effects of a global pandemic, 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.

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

Investor Relations:
Brian Ritchie, LifeSci Advisors
+ 1-212-915-2578
britchie@lifesciadvisors.com

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ⁱ 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