New Real-World Clinical Evidence Confirms ProFound AI Boosts Radiologists’ Efficiency and Accuracy

NASHUA, N.H., March 01, 2023 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced new real-world clinical evidence to be presented at the European Congress of Radiology (ECR) 2023 meeting confirms ProFound AI® boosts radiologists’ efficiency and accuracy. The Company is also showcasing its Breast AI Suite of deep-learning breast cancer detection, density assessment and risk evaluation tools in booth #AI-14 (Expo X1) at the meeting, which is taking place in Vienna from March 1-5.

“At ECR this year, we are pleased to again see physicians share their real-world clinical experience and evidence that iCAD’s AI Breast Suite has a positive impact on cancer detection and women’s lives. Our unique AI solutions are clinically proven to assist clinicians in daily practice to detect more cancers, evaluate breast density, and identify women at high risk of developing breast cancer in the short-term,” said Michele Debain, Senior Vice President and General Manager, Europe, Middle East, Africa, Asia Pacific.

“iCAD’s comprehensive suite of breast AI solutions offers clinically proven benefits to clinicians and patients alike,” said Stacey Stevens, President and CEO of iCAD, Inc. “A growing number of leading imaging facilities worldwide trust our technologies to detect cancer and stop it in its tracks – streamlining workflow, improving accuracy, and personalizing results like never before.”

In a research presentation session on Friday, March 3 from 16:00-17:30 CET, Kathy Schilling, MD, Medical Director, Christine E. Lynn Women's Health & Wellness Institute, Boca Raton Regional Hospital, USA, will present findings from a study titled “Real-world breast cancer screening performance with digital breast tomosynthesis before and after implementation of an artificial intelligence detection system.” After comparing the performance of nine dedicated breast radiologists reading screening digital breast tomosynthesis (DBT) exams two years before and two years after adopting ProFound AI for DBT, researchers found ProFound AI helped radiologists find 1.31 more cancers per 1,000 screening exams for a 23% relative increase in cancer detection rate, without increasing the rate of recalls.

“After using ProFound AI for more than two years in daily practice, we have found not only marked improvements in efficiency and performance, but also tremendous improvements in cancer detection rates. This means we are finding more cancers and reading cases more accurately, without increasing the rate of false positives and unnecessary callbacks,” said Dr. Schilling. “ProFound AI also empowers our team to read cases faster and with more confidence. It’s like having another expert looking at the images right by your side.”

Studies demonstrating the clinical benefits of ProFound AI® for 2D Mammography and ProFound AI® Risk will also be presented at ECR. Initial results from these studies were recently highlighted at the Radiological Society of North America (RSNA) Annual Meeting in Chicago late last year.

On Thursday, March 2, iCAD will also host an “AI After Dark” dinner and cocktail event, featuring renowned leaders in breast imaging AI who will discuss how iCAD’s Breast AI Suite has enhanced clinical practice and patient care at their facilities. Featured presenters include:

• Kathy Schilling, MD, Medical Director, Christine E. Lynn Women's Health & Wellness Institute, Boca Raton Regional Hospital, Florida, USA
• Axel Gräwingholt, MD, Radiologie am Theater, Paderborn, Germany

To learn more about iCAD’s presence at ECR or RSVP for an event, please visit: https://www.icadmed.com/ecr2023.html.

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 expansion of access to the Company’s products, improvement of performance, acceleration of adoption, 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.

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