showcased expanded ProFound AI platform, including ProFound AI Risk, the
world’s first clinical decision support tool that provides a highly accurate
short-term risk estimation specific to each woman


NASHUA, N.H. – March 8, 2021 – iCAD, Inc. (NASDAQ: ICAD), a global
medical technology leader providing innovative cancer detection and therapy solutions,
today announced new research supporting ProFound AI® was presented at the European
Congress of Radiology (ECR) 2021 Online
meeting, taking place March 3-10, 2021. During the congress, the Company also showcased
the full suite of its Breast Health Solutions in the virtual iCAD booth (#1608), including
ProFound AI Risk, the world’s first commercially available clinical decision
support tool that provides a highly accurate short-term risk estimation
specific to each woman based on data from a screening mammogram.


“iCAD’s powerful artificial intelligence (AI) solutions are
clinically proven to offer unparalleled benefits to both clinicians and
patients,” said Michael Klein, Chairman and CEO of iCAD. “ProFound AI empowers
doctors to find breast cancers earlier, when they may be more easily treated. Specifically,
this high-performing deep learning technology offers marked improvements in
sensitivity and specificity and a reduction in the rate of false positives,
which can reduce unnecessary callbacks for patients. Furthermore, new research
presented at ECR demonstrates how ProFound AI helps to improve radiologists’
workflow and efficiency.”


Emily F. Conant, MD, Division Chief of Breast Imaging at the
University of Pennsylvania Medical Center, presented findings from a retrospective
analysis involving ProFound AI for Digital Breast Tomosynthesis (DBT) in a
research presentation session (RPS-605) titled “Use
of an artificial intelligence software to identify low-likelihood of cancer
exams collected across four commercial digital tomosynthesis screening systems.”


Using consecutive cases from 18 sites in the United States and
three sites in France, the study concluded that ProFound AI for DBT accurately
identified 33.4 percent of screening DBT exams to triage with 0 percent of
false negative results, based solely on the ProFound AI Case Score. When
researchers also factored in breast density and age, ProFound AI identified up
to 58.6 percent of normal cases with no false negatives.


“Our research adds to the growing body
of evidence demonstrating the potential value that AI may offer in the clinical
setting,” said Dr. Conant. “Not only may AI algorithms help increase radiologists’
confidence in interpreting DBT studies, it may also help improve reading
efficiency. Our retrospective study shows that AI has the potential to
correctly identify a third of DBT screening exams as having no malignancy or an
extremely low likelihood of malignancy. This AI-triaging could help
radiologists determine which cases may need more intensive analysis.”


In addition, new findings from a recent study supporting ProFound
AI Risk as a short-term, image-based cancer risk prediction model were presented
at the meeting in a Special Focus Session by Per Hall, MD, Professor/Senior
Physician at the Karolinska Institutet (SF 16 -2). During this
discussion, Professor Hall reviewed the Karolinska Institutet’s research
involving ProFound AI Risk and the identification of women at high risk and at
low risk of developing breast cancer in between screening mammograms.


“The Profound AI Risk model is a validated short-term
risk model that provides clinically relevant data about patients’ individual
risk of developing cancer between screenings,” said Professor Hall. “Our study
data show that the ProFound AI Risk model offers significantly superior
performance compared to any other current model.”


Additionally, ECRChannel 1 featured a video
presentation by Axel Gräwingholt, MD, Radiologie am Theater in Paderborn,
Germany, titled “How ProFound AI is Used in Clinical Routine for Breast
Screening, Diagnostics, and Risk Assessment via a Clinical Case Study” on
Saturday, March 6.


AI Risk
is a clinical decision support tool that combines aspects within
mammographic images, such as complexity, asymmetry, and breast density with
patient age, to provide a highly accurate short-term risk estimation that is
specific to each woman. It is part of iCAD’s full suite of Breast Health Solutions, which also
includes the latest generation of ProFound AI for Digital Breast
(DBT), the first AI cancer detection software for DBT to be cleared
by the FDA, as well as ProFound AI for 2D Mammography,* and PowerLook
Density Assessment
, iCAD’s automated breast density assessment solution.


Trained with one of the largest available DBT datasets,
ProFound AI rapidly and accurately analyzes each DBT image or slice, and
provides radiologists with key information, such as Certainty of Finding
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.


For more information, visit


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 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 and
on the SEC’s website at



*CE Mark countries only.


Media Inquiries:

Jessica Burns, iCAD

+1 (201) 423-4492



Jeremy Feffer, LifeSci

+1 (212) 915-2568