iCAD Highlights Xoft Electronic Brachytherapy System at Key Industry Conference

NASHUA, N.H. – July 27, 2011 – iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapies for the early identification and treatment of cancer, will highlight its Xoft Axxent® eBx™ electronic brachytherapy system at the 2011 Joint American Association of Physicists in Medicine (AAPM)/ Canadian Organization of Medical Physicists (COMP) meeting in Vancouver, British Columbia this weekend.

At the show, iCAD will present a poster discussing dosimetry measurements for a new applicator under development for use with the Xoft system. The new interstitial applicator would enable the delivery of Xoft eBx therapy to patients who need very localized radiation delivery, such as those with spinal metastases. Authors will present at the General Poster session on Sunday, July 31 from 3:00 p.m. to 6:00 p.m. in the General Poster Area of Exhibit Hall C.

In addition, several clinicians and scientists specializing in radiation therapy and dosimetry will present information on applications for the Axxent eBx system including its use for Intraoperative Radiation Therapy (IORT) and fundamental X-ray source calibration developments at the “Advances in eBx,” Luncheon Symposium at 12:30 p.m. on August 2, in West Wing Rooms 202-204 at the Vancouver Convention Centre.

“iCAD has always been committed to innovating in cancer detection, and with our Xoft system we feel that there is a strong opportunity to change the path of treatment for cancer patients, ultimately improving their quality of life,” said Ken Ferry, President and CEO of iCAD. “We are encouraged by the data and look forward to discussions around our Xoft products at this important industry conference.”

The Axxent system uses a proprietary isotope-free miniaturized X-ray source to deliver radiation in minimally shielded environments directly to the cancerous tumor bed. The Axxent system is approved for accelerated partial breast irradiation (APBI), which can be delivered twice daily for five days or it can be administered immediately following the lumpectomy procedure in only a few minutes with one course of therapy, also known as Intraoperative Radiation Therapy (IORT). The system is cleared by the U.S. Food and Drug Administration (FDA) for treatment of conditions where radiation is indicated, including early stage breast cancer, skin cancer, and endometrial cancer. 

iCAD recently received clearance from the FDA for its new Axxent Rigid Shield, a stainless steel shielding device to protect tissue and/or organs from radiation. The Rigid Shield is intended to be used internally, such as during IORT procedures when the treatment site is surgically exposed and provides surgeons and radiation oncologists another option for shielding patients from unnecessary radiation exposure.

In addition to the Xoft system, iCAD will also showcase its magnetic resonance imaging (MRI) suite of advanced image analysis solutions, including: VividLook®,  SpectraLook®, OmniLook™, PrecisionPoint® and VersaVue™ Enterprise, which are designed to improve accuracy for the detection of cancers and provide clinicians with objective localization, staging, treatment planning and serial monitoring.

iCAD will be at the 2011 Joint American Association of Physicists in Medicine (AAPM)/ Canadian Organization of Medical Physicists (COMP)  meeting from July 31 – August 4, 2011, in booth # 1130.

About iCAD

iCAD, Inc. is an industry-leading provider of advanced image analysis and workflow solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing the most prevalent cancers earlier. iCAD offers a comprehensive range of high-performance, upgradeable Computer-Aided Detection (CAD) systems and workflow solutions for mammography, Magnetic Resonance Imaging (MRI) and Computed Tomography (CT).  iCAD recently acquired Xoft, Inc., developer of the Axxent® eBx™ electronic brachytherapy system (eBx). Axxent uses non-radioactive miniaturized X-ray tube technology and is FDA-cleared for treatment of early stage breast cancer, skin cancer and endometrial cancer. The Axxent System is also cleared for use in the treatment of other cancers or conditions where radiation therapy is indicated including Intraoperative Radiation Therapy (IORT).  For more information, call (877) iCADnow or visit www.icadmed.com.

For iCAD, contact Kevin Burns at 603-882-5200 x 7944 or via email at kburns@icadmed.com

For Investor Relations, contact Anne Marie Fields of Lippert/Heilshorn & Associates at 212-838-3777 x6604 or via email at afields@lhai.com

For iCAD media inquiries, contact Wendy Ryan of Schwartz Communications at 781-684-0770, or via email at wryan@schwartzcomm.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. 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 defend itself in litigation matters, the Company’s ability to identify a replacement for the Axxent FlexiShield Mini, the risks relating to the Company’s acquisition of Xoft including, the expected benefits of the acquisition may not be achieved in a timely manner, or at all; the Xoft business operations may not be successfully integrated with iCAD’s and iCAD may be unable to achieve the expected synergies, business and strategic objectives following the transaction, the risks of uncertainty of patent protection; the impact of supply and manufacturing constraints or difficulties; product market acceptance; possible technological obsolescence; increased competition; customer concentration; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe”, “demonstrate”, “intend”, “expect”, “estimate”, “anticipate”, “likely”, 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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