Clinical results presented demonstrate outstanding outcomes with world-class artificial intelligence
NASHUA, N.H. and CHICAGO, Nov. 26, 2018 (GLOBE NEWSWIRE) — (Booth #3911 and #8161) – iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced the global brand identity for its latest artificial intelligence software solution for digital breast tomosynthesis (DBT), ProFound AI™. This high-performance, deep-learning technology revolutionizes the way radiologists interpret and manage DBT data. Study results presented during an oral presentation at the Radiological Society of North America (RSNA) annual meeting at McCormick Place in Chicago showed that radiologists’ concurrent use of ProFound AI for DBT increased detection of breast cancer, while also decreasing false positives, unnecessary recalls and reading time. The algorithm is the world’s first solution to achieve these unprecedented results.
“As AI continues to transform the healthcare landscape, we are pleased to present the unrivaled clinical results our technology offers to radiologists, their facilities, and their patients at this year’s RSNA meeting,” said Stacey Stevens, Executive Vice President and Chief Strategy and Commercial Officer at iCAD. “Powered by more than 12,000 patient cases, our solution is proven through a rigorous clinical study to help clinicians find more cancer, decrease false positives, reduce recalls and reading time. These results are truly profound.”
In the presentation, Emily F. Conant, MD, Principal Investigator, Professor and Chief, Division of Breast Imaging, Vice Chair of Faculty Development, Department of Radiology, Hospital at the University of Pennsylvania in Philadelphia, detailed results of the retrospective, fully-crossed, multi-reader, multi-case study that compared the performance of 24 radiologists reading 260 DBT cases both with and without ProFound AI between two separate reading sessions. The findings showed that the concurrent use of ProFound AI by radiologist study participants improved cancer detection rates with an average increase in sensitivity of 8.0 percent. The false positive rate decreased with an average improvement in specificity of 6.9 percent. The solution also delivered significant workflow benefits by reducing reading time by 52.7 percent on average.
“To increase both sensitivity and specificity while also substantially reducing reading time is an impressive outcome,” said Emily F. Conant, MD. “These findings underscore the significant clinical value of incorporating deep-learning technology in the interpretation of DBT studies. Including AI in DBT reading offers physicians confidence without compromise, resulting in better quality of care for patients.”
In addition to the new data released at the scientific assembly, iCAD will also present “How AI Can Improve Diagnostic Performance and Reduce Reading Time in Breast Tomosynthesis,” led by Senthil Periaswamy, PhD, Vice President of Research, iCAD. The session held on Tuesday at 1:30pm CT will focus on how ProFound AI improves breast cancer detection, reduces recalls and improves reading efficiency for DBT. For more information, including experiential learning sessions about the solution, please visit iCAD’s booth #3911 in the South Hall or in the new Machine Learning Showcase located in the North Hall, booth #8161.
iCAD’s ProFound AI is a high-performance, deep-learning, cancer detection and workflow solution for DBT delivering critical benefits to radiologists, their facilities, and their patients. The new technology is trained to detect malignant soft-tissue densities and calcifications and also provides radiologists with scoring information representing the likelihood that a detection or case is malignant based on the large dataset of clinical images used to train the algorithm. The solution is currently available for use with leading DBT systems in Europe and Canada. It is pending clearance by the United States Food and Drug Administration (FDA). For more information, visit www.icadmed.com.
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, 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”, “would”, “could”, “consider”, “project”, “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, including the 10-K for the year ended December 31, 2017, 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:
ARPR, on behalf of iCAD, Inc.
Paul Barren, (855) 300-8209
paul@arpr.com
Investor Relations:
LifeSci Advisors, on behalf of iCAD, Inc.
Jeremy Feffer, (212) 915-2568
jeremy@lifesciadvisors.com