Positive New Research Presented at RSNA 2022 Reaffirms iCAD’s Breast AI Suite Improves Radiologists’ Performance and Breast Cancer Detection

Study affirms utility of ProFound AI’s Case Scores in improving cancer detection

Company’s Breast AI Suite of deep-learning breast cancer detection, density assessment and risk evaluation tools showcased at largest medical imaging forum in the world

NASHUA, N.H., Nov. 21, 2022 (GLOBE NEWSWIRE) --  iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced new and real-world research demonstrating the value of its Breast AI Suite will be highlighted at the Radiological Society of North America (RSNA) Annual Meeting in Chicago, November 27 to December 1. The Company is also showcasing this technology in booth #4754 at the meeting.  

“Leading institutions and experts continue to validate the benefits our Breast AI Suite offers to clinicians and patients alike, establishing our technology as the most widely adopted breast cancer detection solution worldwide,” said Stacey Stevens, President and CEO of iCAD, Inc. “At this year’s RSNA meeting, we are pleased to see the clinical utility of our solutions reflected in new research, adding to a growing body of evidence supporting our Breast AI Suite. Not only is our Breast AI Suite clinically proven to improve radiologists’ performance, but more importantly, it is uniquely enhancing patient care and improving lives.”

Study affirms utility of ProFound AI’s Case Scores in improving cancer detection

In a digital poster discussion on Monday, November 28 from 9:00-9:30 am CST titled “Clinical Implications of Changes in Artificial Intelligence Software Case Scores from Prior to Current Digital Breast Tomosynthesis Screening Exam” (Session number: M2-SPBR), Emily F. Conant, MD, Professor and Chief, Division of Breast Imaging at the Hospital of the University of Pennsylvania Medical Center, will discuss her research evaluating the degree of change in ProFound AI® Case Scores over sequential screens relative to outcomes. Represented on a scale of 0 to 100%, Case Scores represent the algorithm’s relative confidence that a lesion is malignant. Study findings suggest radiologists using ProFound AI should consider changes in Case Scores over sequential screens, as larger increases may indicate an increased likelihood of screen-detected cancer.

ProFound AI increases rate of cancer detection by 27%

In an oral presentation on Monday, November 28 from 9:30-10:30 am CST, titled “Real World Clinical Impact of Implementing Artificial Intelligence on Radiologists’ Performance in High Volume Mammography Screening” (Session M3-SSBR03), Axel Gräwingholt, MD, Radiologie am Theater in Paderborn, Germany will present findings from a study that compared radiologist performance both before and after adopting ProFound AI for 2D Mammography. The study revealed ProFound AI helped radiologists detect 1.2 additional cancers per 1,000 women screened, which is a 27% increase in the rate of cancer detection, without significantly increasing the rate of abnormal interpretations.

“In many European countries, double-reading for mammography is the standard of care, yet this can pose a challenge due to the global shortage of mammography professionals. This can lead to burnout and ultimately, missed cancers,” said Dr. Gräwingholt. “ProFound AI offers a viable and impactful solution. It helps our team find more cancers – and with greater accuracy – demonstrating the real-world value this solution offers as a trustworthy second set of eyes. With this technology, clinicians can feel confident that they are catching cancers earlier, when they may be more easily treated.”

Additional presentations supporting iCAD’s Breast AI Suite to be featured at RSNA

Monday, November 28:
1:30-2:30 pm CST

• “Long-term Performance of an Image-based Short-term Risk Model for Breast Cancer” (Oral presentation - Session Number: M6-SSBR04)
• Mikael Eriksson, PhD, Department of Medical Epidemiology and Biostatistics, Karolinska Institute, Solna, Sweden, will present findings from a study that supports iCAD’s first in kind breast cancer risk evaluation tool, ProFound AI® Risk. The study showed ProFound AI Risk has the potential to assess short-term risk for capturing women with estrogen-negative breast cancers in need of supplemental screening and long-term risk for women who could benefit from primary prevention of estrogen-positive breast cancer.

Tuesday, November 29:
3:00-4:00 pm CST

• “Using an Artificial Intelligence System to Implement Limited Double Reading in a Single Reader Environment” (Oral presentation - Session Number: T7-SSBR06)
• Robert Nishikawa, PhD, Professor, Department of Radiology, Imaging Research Laboratory at the University of Pittsburgh Center for Artificial Intelligence Innovation in Medical Imaging, will discuss the feasibility of using ProFound AI to triage selected cases for double reading in a single reader environment. The study showed double reading directed by ProFound AI can efficiently reduce the recall rate by 9%, resulting in only 3% more reads by a second radiologist.

3:30-3:45 pm CST

• “Leveraging ProFound AI to Enhance Patient Care at Solis Mammography” (Oral presentation - AI Showcase Open-Air Theater)
• Chirag Parghi, MD, Chief Medical Officer, Solis Mammography, the largest independent provider of mammography and breast health services in the United States, will share the company’s experience in deploying ProFound AI across its network of facilities.

During the conference, iCAD will also host a series of “Meet the Experts” sessions throughout the week, as well as a “Cocktails and Conversations” event on November 28 featuring renowned leaders in breast imaging AI who will be available to share their experience with iCAD’s Breast AI Suite. To learn more about iCAD’s presence at RSNA or RSVP for an event, please visit: https://icadmed.com/rsna2022.html.

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.

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 expansion of access to the Company’s products, improvement of performance, acceleration of adoption, expected benefits of ProFound AI®, the benefits of the Company’s products, and 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 http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.

Contacts:
Media inquiries:
Jessica Burns, iCAD  
+1-201-423-4492
jburns@icadmed.com

Investor Inquiries:
iCAD Investor Relations
ir@icadmed.com