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iCAD Introduces ProFound AI™ for 2D Mammography in Europe

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Company to showcase its newest artificial intelligence software solution, ProFound AI for 2D Mammography, in addition to ProFound AI for Digital Breast Tomosynthesis at the SIFEM Medical Conference in France

NASHUA, N.H. and LILLE, France, June 13, 2019 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced the launch of ProFound AI™ for 2D Mammography in Europe. This software is the latest addition to iCAD’s deep-learning, artificial intelligence platform and follows the launch of ProFound AI™ for Digital Breast Tomosynthesis (DBT), which was CE Marked in March 2018 and FDA cleared in December 2018. ProFound AI for 2D Mammography and ProFound AI for DBT will both be featured in the iCAD exhibition booth (#24) at the Société Française d'Imagerie de la FEMme (SIFEM) medical conference from June 13-15, 2019 at the Grand Palais in Lille, France.

“iCAD is at the forefront of the fight against breast cancer. We bring powerful solutions to physicians across Europe so women everywhere can benefit from earlier detection,” explains Michele Debain, MBA, Sr. Director, Business Development Europe, iCAD. “Our first ProFound AI product was for tomosynthesis; this solution was created to help physicians overcome their workflow issues of reading extensive amounts of data and reduce the likelihood of missing malignancies. Today, we are thrilled to introduce our second ProFound AI product for 2D Mammography, which promises to assist physicians in all breast screening exams, especially the challenging dense breast cases, to bring precise detection and reduce false positives. ProFound AI for Mammography is an extremely valuable tool for women, physicians and all breast screening practices.”

ProFound AI is available for both mammography and tomosynthesis modalities; it is a high-performance, deep-learning, breast cancer detection and workflow solution that offers benefits to radiologists and patients alike. ProFound AI for DBT is clinically proven to improve cancer detection rates by 8 percent, reduce unnecessary patient recall rates by 7.2 percent, and slash reading time for radiologists by 52.7 percent and up to 57.4 percent for dense breast 3D image analysis.1

“The arrival of the ProFound AI platform has completely changed the way we read tomosynthesis cases. It is a very powerful and extremely useful tool that improves our diagnostic confidence; especially for subtle lesions and dense breasts,” according to Dr. Patrick Toubiana, Radiologist, President and Cofounder at the C.S.E. Centre Imagerie Médicale Numérique in Paris. “In addition, ProFound AI allows us to optimize our workflow for better reading comfort and a reduction of the interpretation time of the tomosynthesis slices. Today, ProFound AI is a real asset in our daily practice that we could not do without.”

ProFound AI for 2D Mammography and ProFound AI for DBT were designed to rapidly and accurately analyze each image and provide radiologists with key information, such as certainty of finding lesion and case scores, which assists in clinical decision-making and prioritizing caseloads. Featuring the latest in deep-learning artificial intelligence, the platform also allows for continuously improved performance via ongoing updates.

“The ProFound AI software platform is the result of many years of research and development to create a deep-learning algorithm that analyzes each image with unrivaled accuracy,” according to Stacey Stevens, President of iCAD. “With more than 4,000 sites worldwide to-date, the growing adoption of our technology demonstrates iCAD’s rapidly expanding global presence and reaffirms our company’s commitment to improving women’s health worldwide.”

ProFound AI for DBT was FDA cleared, CE marked, and Health Canada licensed in 2018. ProFound AI for 2D Mammography is pending CE Mark in the EU. For more information, visit www.icadmed.com.

Reference:

  1. Hoffmeister, J. (2018). Artificial Intelligence for Digital Breast Tomosynthesis – Reader Study Results. [White paper]. Accessed June 4, 2019 via https://www.icadmed.com/assets/dmm253-reader-studies-results-rev-a.pdf

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. 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.

Contacts:

Media Inquiries:
Jessica Burns, iCAD  
+1-623-203-7270
jburns@icadmed.com

Investor Relations:
LifeSci Advisors, on behalf of iCAD, Inc.
Jeremy Feffer, (212) 915-2568
jeremy@lifesciadvisors.com

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