iCAD Presents its Complete Suite of Breast Cancer AI Solutions at the European Congress of Radiology

NASHUA, N.H., July 13, 2022 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced that the Company will showcase and demonstrate the complete portfolio of its Breast AI solutions, including ProFound AI®, PowerLook® Density Assessment, and ProFound AI® Risk, in booth #AI-20 at the European Congress of Radiology (ECR), July 13-17 in Vienna.

“iCAD is the only company to offer a comprehensive, high-performing suite of AI solutions for breast cancer detection for both 2D and 3D mammography, breast density assessment and personalized risk evaluation,” said Michele Debain, Vice President Europe, Middle East, Africa and Asia-Pacific. “These solutions are clinically proven to assist clinicians in daily practice and are helping to address some of the most common challenges radiologists face today, including reducing unnecessary patient recalls and false positives, standardizing breast density assessments, identifying women at high risk of developing breast cancer in the short-term, and reducing radiologists’ reading time.”

At the virtual ECR meeting earlier this year, distinguished researchers from the Karolinska Institutet presented compelling research from a study supporting ProFound AI Risk, titled “A Risk Model for Digital Breast Tomosynthesis to Predict Breast Cancer and Guide Clinical Care.” ProFound AI Risk is the latest addition to iCAD’s Breast AI Suite and the world’s first clinical decision support tool that provides an accurate^i,ii short-term breast cancer risk estimation based on age, breast density and mammographic features. According to study findings, ProFound AI Risk accurately identified a group of high-risk women with 32 times higher risk of developing breast cancer than the general population, using National Institute for Health and Care Excellence (NICE) guidelines. Researchers concluded ProFound AI Risk is 2.4 times more accurate than traditionally used risk models.ⁱⁱ This research was also recently published in the peer-reviewed journal Science Translational Medicine.ⁱⁱ

“Our research shows that an image-based risk assessment has the advantage over commonly used risk models for identifying the women who could benefit for additional follow-up due to their high risk of breast cancer,” said lead author of the study, Mikael Erikson, PhD, Medical Epidemiology and Biostatistics, Karolinska Institutet, Stockholm, Sweden. “ProFound AI Risk, available for 2D and 3D mammography, offers a unique clinical value, as it provides radiologists with critical information about a woman’s short-term individual risk of developing breast cancer. This could potentially allow clinicians to tailor screening regimens for patients based on their individual short-term risk, which could ultimately lead to earlier detection and hopefully, improved prognosis. Additionally, ProFound AI Risk is easy-to-implement in the clinical setting, with no additional testing, surveys, or other procedures required, as may be the case with other, long-term risk models.”

Traditionally, physicians have estimated risk by examining known risk factors such as family history, but about 85% of breast cancers occur in women with no family history of breast cancer.ⁱⁱⁱ ProFound AI Risk utilizes information garnered from a screening mammography exam, including age, breast density and other image-related information proprietary to iCAD’s algorithm, in order to calculate a woman’s short-term risk of breast cancer. The latest version of ProFound AI Risk, launched in September 2021, offers expanded features, including the ability to produce 1, 2, and 3-year risk estimations – geared specifically towards annual, bi-annual and tri-annual screening regimens and other clinically relevant global screening guidelines – as well as more than 15 country incidence and mortality reference tables, further personalizing results.

“Currently a number of sites in Europe are using ProFound AI Risk in their daily workflow to assist them with their patient management. For example, when a woman presents with no cancer detection findings but with a high-risk score, a physician may decide to use supplemental imaging such as ultrasound or MRI, and/or perhaps reduce the interval screening time for the woman in question,” adds Ms. Debain.

iCAD will also host a “Cocktails and Conversation” event during ECR, titled “The AI Revolution in Breast Cancer Screening for Today and Tomorrow” on July 14 at 6 pm CEST. The event will feature leading experts in breast imaging, including Alexandra Athanasiou, MD, a radiologist at Mitera Hospital in Greece and Dr. Emily Conant, MD, professor and chief, Division of Breast Imaging at the Hospital of the University of Pennsylvania Medical Center. For more information, visit this link.

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.

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, 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.

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

Investor Inquiries:
iCAD Investor Relations
ir@icadmed.com

---

ⁱ Eriksson M et al. Identification of Women at High Risk of Breast Cancer Who Need Supplemental Screening. Radiology. 2020 Sept 8. Accessed via https://doi.org/10.1148/radiol.2020201620.
ⁱⁱ Eriksson, M et al. A risk model for digital breast tomosynthesis to predict breast cancer and guide clinical care. Science Translational Medicine. 14 (644). 2022 May 11. Accessed via DOI: 10.1126/scitranslmed.abn3971.
ⁱⁱⁱ Breastcancer.org. U.S. Breast Cancer Statistics. Accessed via https://www.breastcancer.org/symptoms/understand_bc/statistics.