GlobeNewswire Inc | Nov 30, 2020 08:00AM EST

November 30, 2020

NASHUA, N.H., Nov. 30, 2020 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced that the Company is showcasing its leading Breast Health Solutions, including the expanded ProFound AI platform powered by Panorama, at the 106th Scientific Assembly and virtual Annual Meeting of the Radiological Society of North America (RSNA), November 29 December 5.

The Companys full suite of solutions includes the latest generation of ProFound AI for Digital Breast Tomosynthesis (DBT), the first artificial intelligence (AI) cancer detection software for DBT to be cleared by the US Food & Drug Administration, as well as ProFound AI for 2D Mammography,* and ProFound AI Risk for 2D mammography, the first and only commercially available clinical decision support tool that provides an accurate two-year breast cancer risk estimation based solely on a screening mammogram.

Our efforts to commercialize pioneering solutions positioned to enhance patient care and improve outcomes is underscored by the superior performance and unrivaled specificity of our breast imaging AI that is transforming breast cancer detection and risk-based, personalized screening, said Michael Klein, Chairman and CEO of iCAD. Were thrilled to highlight our expanded ProFound AI platform powered by Panorama at RSNA 2020, which is poised to further boost radiologists performance, improve detection and care, and is uniquely positioned to address the ongoing challenges presented by COVID-19.

Our new ProFound AI Risk is helping to change the way breast cancer risk is assessed and contribute to the acceleration of breast cancer screening from an aged-based screening paradigm to a risk-adapted screening paradigm, continued Klein. It is extremely gratifying to fulfill our panoramic vision of providing a complete clinical approach with a broader view of each patients case, history, and short-term risk, for truly personalized and enhanced patient care.

ProFound AI Risk was created from a relationship between iCAD and leading researchers at the Karolinska Institutetin Stockholm, Sweden. This partnership is built upon a previous research agreement whereby researchers at the Karolinska Institutet developed a breast cancer risk prediction model using information identified in mammography images provided by iCADs AI solutions. The clinical decision support tool combines aspects within mammographic images, as well as age and breast density, to provide a highly accurate short-term risk estimation that is specific to each woman.

The Profound AI Risk model performs better than any other current model, according to Per Hall, MD, Professor/Senior Physician at the Karolinska Institutet. The model is a short-term risk model which is an advantage in the screening setting, builds heavily on analyses of mammograms, is easy and inexpensive to implement and has little requirement of staff and systems to manage the data. Further, the risk model was also tested using other variables, such as lifestyle factors and genetic determinants, which may be added to the iCAD product in the future.

Compelling research published in the peer-reviewed journal, Radiology, reveals that ProFound AI Risk significantly outperforms existing breast cancer risk models.

Trained with one of the largest available DBT datasets, ProFound AIrapidly and accurately analyzes each DBT image, or slice, and providesradiologists 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 in detection via ongoing updates. ProFound AI for DBT and 2D mammography* is compatible with a majority of leading DBT and digital 2D mammography systems.

About iCAD, Inc.

Headquartered in Nashua, NH, iCAD is a global medical technology leader providing innovative cancer detection and therapy solutions.

ProFound AI for DBT is proven to curtail workflow challenges substantially by reducing radiologists reading time by 52.7 percent, thereby reducing by half the amount of time it takes radiologists to read 3D mammography datasets. Additionally, the platform improved radiologists sensitivity by 8 percent and reduced unnecessary patient recall rates by 7 percent.i

ProFound AI Risk is currently available on an introductory basis for 2D mammography and will subsequently be available for the rapidly growing 3D mammography market.

For more information, visitwww.icadmed.comandwww.xoftinc.com

Forward-Looking StatementsCertain 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 future prospects for the Companys 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 Companys 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 Companys 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 SECs website at http://www.sec.gov.

*CE Mark countries only.

Media Inquiries:Amy Cook, iCAD+1 (925) 200-2125acook@icadmed.com

Investor Relations:Jeremy Feffer, LifeSci Advisors+1 (212) 915-2568jeremy@lifesciadvisors.com

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