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 (GLOBE NEWSWIRE) — 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 imagesⁱ, 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 http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.

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

Investor Inquiries:
iCAD Investor Relations
ir@icadmed.com 

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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.