iCAD to Host 2nd Annual Virtual Investor Webinar on Company’s Innovative Solutions for Cancer Detection and Treatment
Leading clinical and administrative experts to
discuss how leveraging iCAD’s Breast Health Solutions and the Xoft System can
enhance clinical efficiency and improve outcomes for patients
Webinar
taking place on Thursday, November 18 from 3:00 to 4:30 PM ET
NASHUA, N.H. – November 11, 2021 – iCAD,
Inc. (NASDAQ: ICAD), a global
medical technology leader providing innovative cancer detection and therapy
solutions, today announced it will host its 2nd annual virtual investor webinar, featuring leading
clinical and administrative experts who will share unique perspectives on
iCAD’s innovative cancer detection and treatment technologies, on Thursday, November 18, 2021, from 3:00 to
4:30 PM Eastern Time. To register for the event,
please visit this link.
“Our virtual investor webinar was
incredibly well-received last year, and we look forward to making this an
annual event where we can connect the investment community with leading experts
who can provide unique viewpoints on the performance superiority, productivity
yields, and broad healthcare economic value proposition iCAD’s technology
offers,” according to Stacey Stevens, President of iCAD, Inc. “With a robust
portfolio of advanced technologies for the detection and treatment of cancers
that continues to improve each year, iCAD’s unique solutions enhance clinical
efficiency across the entire continuum of breast health care, from screening
and diagnosis through treatment, offering economic benefits to customers and
ultimately improving outcomes for patients.”
The following leading
experts will be featured during the webinar:
- Angela Fried, MD, Director
of Breast Imaging, SimonMed Imaging - Sally Grady, Director,
Kettering Breast Evaluation Centers, Kettering Health - Meghan Musser, DO,
Radiologist, Kettering Health - Matt Dewey, Chief
Information Officer, Wake Radiology - Sidney P. Smith, MD,
Dermatologist, Chief Executive Officer, Georgia Skin and Cancer Clinic
The event, which will be
moderated by Michael Klein, Chairman and CEO of iCAD, Inc., Stacey Stevens,
President of iCAD, Inc., and Jeffrey Sirek, Chief Commercial Officer of iCAD,
Inc., will feature a roundtable discussion on iCAD’s Breast Health Solutions,
including ProFound® AI, the world’s first artificial intelligence
(AI) software application trained using deep-learning technology on digital
breast tomosynthesis (DBT) images to be FDA cleared. ProFound AI is a
high-performance, deep-learning workflow solution trained to detect malignant
soft-tissue densities and calcifications. ProFound AI for DBT offers clinically
proven time-savings benefits to radiologists, reducing reading time by 52.7
percent, while also improving radiologist sensitivity by 8 percent, and
reducing false positives and unnecessary patient recall rates by 7.2 percent.[i]
“We recently updated our breast
screening technology at our facility, and ProFound AI is the icing on the
cake,” said Sally Grady, Director,
Kettering Breast Evaluation Centers, Kettering Health. “We looked at other AI technologies, but have
ultimately found them to be like smoke and mirrors compared to ProFound AI. A
game-changing technology, ProFound AI has empowered us to offer world-class,
personalized patient care. It is light years ahead of other technologies, which
simply cannot measure up. I believe that patients without access to ProFound AI
are at a disservice. It has helped make our breast screening program one of the
best – not only in the state, but also the world.”
ProFound AI rapidly analyzes each
tomosynthesis image, detecting malignant soft tissue densities with unrivaled
accuracy. Built with the latest in deep-learning technology, it provides
radiologists with crucial information, such as Certainty of Finding and Case Scores,
which are relative scores that represent the algorithm’s confidence that a
detection or case is malignant.
“Other AI technologies simply do
not deliver the level of performance, speed and accuracy that ProFound AI
offers,” according to Meghan Musser, DO, Radiologist, Kettering Health.
“Additionally, a unique value of ProFound AI is its ability to detect small or
subtle lesions, such as invasive lobular cancers. I believe that every woman
deserves to have access to this technology, as it can be a critical tool in
overcoming healthcare disparities. ProFound AI is an integral part of our
workflow that is enhancing our ability to personalize breast cancer screening,
and I am so happy that this technology is now available to every patient across
our network of facilities.”
“After a year of using it, I’ve come
to an eye-opening realization: ProFound AI is looking at things that we
clinicians don’t necessarily recognize as signs of cancer,” said Angela Fried, MD, Director of Breast
Imaging, SimonMed Imaging. “For example, I have seen this
technology identify undetectable breast cancer cases one year earlier. We’ve
really gotten to trust it, and I am confident that more of those subtle,
obscured lesions will be picked up earlier because of this.”
The latest version of ProFound
AI, which was cleared by the FDA in March 2021, offers up to a 10 percent
incremental improvement in specificity performance while maintaining an
industry high sensitivity level, and up to 40 percent faster processing over
previous versions of the technology. With thousands of installations worldwide,
ProFound AI is compatible with multiple vendors and easily integrates into the
diagnostic process.
“As technology is advancing and
becoming a more integral part of our day-to-day workflow, partnering with
organizations that provide a clear advantage in AI technologies, like iCAD, has
been a critical focus for our facility in recent years,” according to Matt
Dewey, Chief Information Officer, Wake Radiology. “We have done a thorough
evaluation of all of the other available AI technologies for breast imaging,
but ultimately we found ProFound AI to be the best solution. With its
multi-vendor flexibility, ProFound AI seamlessly integrated into our system and
clinical workflow.”
The event will also feature a
live question and answer session with Sidney P. Smith, MD, Dermatologist, Chief Executive Officer,
Georgia Skin and Cancer Clinic,
who will discuss the advantages of the Xoft® Axxent®
Electronic Brachytherapy (eBx®) System® for the treatment
of nonmelanoma skin cancer (NMSC). The Xoft System is FDA cleared, CE marked,
and licensed in a growing number of countries for the treatment of cancer
anywhere in the body, including early-stage breast cancer, NMSC, and
gynecological cancers. Utilizing the world’s smallest x-ray source, the Xoft
System delivers targeted radiation therapy directly to tumor cells, while
sparing healthy tissue. For the treatment of NMSC, Xoft Skin eBx offers an
effective, non-surgical, convenient treatment option with excellent clinical
and cosmetic results for appropriately selected patients, which can be
completed in a series of short office visits.
“We recently decided to adopt the
Xoft System because it is a clinically proven treatment option for NMSC that
offers patients the ability to complete a course of therapy in fewer
treatments, compared to alternative treatments,” said Dr. Smith. “While Mohs
surgery certainly has a high cure rate, there are some patients for whom Xoft
Skin eBx may be more suitable. For example, patients who are on blood thinners,
or who have lesions in difficult-to-treat areas, such as the face, head, or
neck. Patients with multiple NMSC lesions may also just reach a point of
excision fatigue, and in these cases, they may prefer Xoft skin eBx, as it offers
a painless, noninvasive approach to treatment, which yields excellent clinical
and cosmetic results.”
While Mohs surgery is considered
to be the standard of care for NMSC treatment, for some patients, surgery is
not an option or a preference. With the Xoft System, painless, scar-free treatment of
NMSC is possible with skin eBx, a form of high dose rate, low energy radiation
therapy delivered in minutes over a short series of office visits. Xoft Skin eBx is particularly ideal in
treating NMSC lesions in anatomically challenging locations, such as the face,
scalp, nose, ears, arms and legs, as well as areas prone to difficulties in
wound healing. Skin eBx may also be the preferred option for patients who are
not surgical candidates due to medical comorbidities, or patients with
higher-risk lesions requiring adjunct therapy to surgery.
“Our Xoft Skin eBx business is
currently experiencing an exciting resurgence of new growth over the last year,
as our new turn-key oncology service model is paving the way for more
dermatology practices nationwide to more easily access this leading-edge
treatment, with no need to purchase equipment, no upfront investment, no staff
to hire, or annual equipment service contract required,” added Stevens. “iCAD’s
technologies are expertly engineered to optimize operational efficiency,
clinician confidence and patient outcomes, and our commitment to these
solutions is driven by the valuable benefits they offer to physicians,
facilities, and patients.”
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.
“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. For example, when the Company discusses the
benefits of the Company’s products, and clinical plans and updates, it is using
forward-looking statements. 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,
increase sales and acceptance of products, adoption by CMS of a new payment
model, and that such model will prove beneficial to the Company, which is not
assured, implement expansion plans, 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, ability to successfully defend itself in litigation
matters, 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; the effects of a global pandemic, 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
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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
Investor Relations:
Brian Ritchie, LifeSci Advisors
+ 1-212-915-2578
[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