Company highlights new SMART solution designed to enhance workflow efficiency, flexibility, safety and security of the Xoft System
Company announces U.S. FDA 510k clearance of new extended-life X-ray source
NASHUA, NH, and WASHINGTON, DC (Booth #2645) March 4, 2016 – iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapy for the early identification and treatment of cancer, is unveiling a new Streamlined Module for Advanced Radiation Therapy (SMART) solution for its Xoft® Axxent® Electronic Brachytherapy (eBx®) System® and Axxent Hub cloud-based oncology collaboration software solution, along with a new extended-life X-ray source, during the American Academy of Dermatology (AAD) Annual Meeting in Washington, D.C. from March 4-8, 2016 (Booth #2465).
Comprised of a new Wi-Fi enabled Xoft System and enhanced Axxent Hub cloud software, the SMART solution improves workflow efficiency and the flexibility and security of skin eBx treatments while improving clinical collaboration and supervision. The new SMART solution includes increased patient safety checks through added displays to verify and validate treatment plans. By communicating wirelessly with the Axxent Hub, the Wi-Fi enabled Xoft System offers radiation oncologists and physicists the option to remotely monitor, approve and troubleshoot patient treatments while maintaining the quality of patient care. In addition, the Company announced a new FDA 510k cleared proprietary extended-life X-ray source that will lower the cost of delivery and management of the technology.
“The new SMART solution and extended life of our proprietary X-ray source represent iCAD’s continued innovation in providing leading-edge radiation therapy technology focused on improved patient care,” said Ken Ferry, CEO of iCAD. “A growing body of clinical research continues to confirm that skin eBx is an effective treatment option for patients. We are pleased to further our commitment to increasing market access to skin eBx by offering an adaptive care solution that may be easily incorporated into any clinical practice.”
Also during the AAD meeting, Dr. Wm Philip Werschler and Dr. Rakesh Patel will demonstrate the SMART solution in a Lunch and Learn program entitled “SMART Skin eBx in Clinical Practice.” The educational programs will be held in the Xoft booth (#2645) on both Saturday, March 5 and Sunday, March 6 from 12 noon to 1 pm ET.
About Xoft Axxent Electronic Brachytherapy System
The Xoft System is an isotope-free radiation treatment cleared by the U.S. Food and Drug Administration and CE marked in the EU for use anywhere in the body, including for the treatment of early-stage breast cancer, gynecological cancers and non-melanoma skin cancer. It utilizes a proprietary miniaturized x-ray as the radiation source that delivers precise treatment directly to cancerous areas while sparing healthy tissue and organs. The Xoft System requires only minimal shielding and therefore does not require room redesign or construction investment. Minimal shielding also allows medical personnel to remain in the room with the patient during treatment. The mobility of the Xoft System makes it easy to treat patients at multiple locations and to easily store the system when not in use. Xoft is a wholly owned subsidiary of iCAD, Inc. For more information about Xoft visit www.xoftinc.com, like us on Facebook or follow us on Twitter at @xofticad.
About iCAD, Inc.
iCAD delivers innovative cancer detection and radiation therapy solutions and services that enable clinicians to find and treat cancers earlier and faster while improving patient outcomes. iCAD offers a comprehensive range of upgradeable computer aided detection (CAD) and workflow solutions to support rapid and accurate detection of breast, prostate and colorectal cancers. iCAD’s Xoft® Axxent® Electronic Brachytherapy (eBx®) System® is a painless, non-invasive technology that delivers high dose rate, low energy radiation, which targets cancer while minimizing exposure to surrounding healthy tissue. The Xoft System is FDA cleared and CE marked for use anywhere in the body, including treatment of non-melanoma skin cancer, early-stage breast cancer and gynecological cancers. The comprehensive iCAD technology platforms include advanced hardware and software as well as management services designed to support cancer detection and radiation therapy treatments. For more information, visit or www.icadmed.com or www.xoftinc.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, to achieve business and strategic objectives, the risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, uncertainty of future sales levels, protection of patents and other proprietary rights, the impact of supply and manufacturing constraints or difficulties, product market acceptance, possible technological obsolescence of products, increased competition, litigation and/or 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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