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iCAD Granted CE Mark Approval in Europe for PowerLook Tomo Detection 2.0 Artificial Intelligence Solution


Posted on: 01 Mar 18

Company’s Innovative Breast Cancer Detection Product is Compatible with Hologic, GE and Siemens Digital Breast Tomosynthesis Systems Significantly Expanding iCAD’s Global Market Opportunity

VIENNA, Austria, March 01, 2018 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ:ICAD), a global leader in medical technology providing innovative cancer detection and therapy solutions, today announced receipt of CE Mark approval for PowerLook Tomo Detection 2.0, the company’s second deep-learning based computer aided detection solution that transforms the way radiologists manage and interpret digital breast tomosynthesis data.  This innovative breast cancer detection solution is compatible with Hologic, GE and Siemens systems.  

PowerLook Tomo Detection 2.0 will be showcased in the iCAD exhibition booth (Expo X1, Booth 153) during the European Congress of Radiology 2018, taking place February 28-March 4, in Vienna, Austria, as well as in the partners’ exhibits.

“With growing demand for powerful detection and workflow solutions leveraging Artificial Intelligence (AI), especially to assist in cancer detection, we are thrilled to introduce PowerLook Tomo Detection 2.0 to the European market, in addition to making our platform compatible with leading digital breast tomosynthesis providers, including Hologic, GE and Siemens,” said Ken Ferry, CEO of iCAD. “This compatibility considerably increases the market opportunity for iCAD’s AI solutions. Most importantly, both providers and patients alike will now have greater access to one of the most advanced breast cancer detection solutions available in healthcare today.”

“PowerLook Tomo Detection 2.0 is a unique, high-performance concurrent read cancer detection solution for breast tomosynthesis that delivers critical benefits to both radiologists and their patients,” said Jeff Hoffmeister, MD, Vice President and Medical Director at iCAD. “PowerLook Tomo Detection 2.0 is a highly accurate product, delivering an increased cancer detection rate and a low false positive rate that should help increase the confidence of radiologists, while also driving improvements in reading workflow.”

Using a unique algorithm that is trained to detect malignancies and determine the probability of cases having malignant findings, PowerLook Tomo Detection 2.0 provides radiologists with a “certainty of finding” score for each detected lesion, which represents the algorithm’s confidence that the detected soft tissue densities (masses, architectural distortions and asymmetries) and calcifications are malignant.

About iCAD, Inc.
Headquartered in Nashua, N.H., iCAD is a global leader in medical technology 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,” “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:
ARPR
Erin Bocherer, (855)-300-8209
erin@arpr.com

or

Investor Relations:
LifeSci Advisors
Jeremy Feffer, (212)-915-2568
jeremy@lifesciadvisors.com

GlobeNewswire
globenewswire.com

Last updated on: 01/03/2018

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