iCAD Among the First to Validate its AI Cancer Detection Solutions with the NVIDIA AI Enterprise Software Suite

NASHUA, N.H., March 02, 2022 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced that it is among the first to validate its AI solutions with the NVIDIA^® AI Enterprise software suite. The Company’s breast health technologies, including ProFound AI^®, PowerLook^® Density Assessment and ProFound AI^® Risk, can now be deployed with the NVIDIA AI Enterprise software suite, which enables thousands of healthcare organizations worldwide to virtualize AI workloads within hospital data centers using VMware vSphere and industry-standard servers.

“With iCAD’s deep learning algorithms now available to deploy on NVIDIA AI Enterprise and virtualized infrastructure, more facilities can accelerate the rapid deployment, management, and scaling of iCAD’s leading-edge solutions,” said Stacey Stevens, President and CEO of iCAD, Inc. “For hospitals that are currently using or migrating towards AI – particularly large hospital networks and academic institutions – this will make it a more seamless experience to adopt our technologies and fully unlock their potential, using users’ preferred data center virtualization infrastructure.”

iCAD’s breast health solutions help clinicians to accurately and efficiently identify cancers, categorize breast density, and assess short-term personalized breast cancer risk. With NVIDIA AI Enterprise, the AI rollout process is simplified, as the software suite enables IT administrators to run and manage multiple AI applications on the same hardware, in their preferred, virtualized infrastructure.

“As one of the first healthcare companies to fast-track integration with the NVIDIA software suite, iCAD is on the leading edge of hospital enterprise-class deployments,” said Brad Genereaux, Medical Imaging Alliance Manager at NVIDIA. “NVIDIA AI Enterprise streamlines the integration of AI into existing infrastructure by enabling IT administrators to manage all applications, including iCAD’s suite of breast health solutions, in one central environment — which maximizes the facility’s investments and makes adopting new technologies more affordable and accessible.”

iCAD's full suite of breast health solutions includes ProFound AI, which is available for 2D and 3D mammography, PowerLook Breast Density Assessment, which aids in accurate and consistent density-based stratification and reporting, and ProFound AI Risk, the world's first and only clinical decision support tool that provides an accurate short-term, breast cancer risk estimation that is truly personalized for each woman based only on a screening mammogram.

“With many facilities still reeling from the impact of the pandemic, AI is becoming an increasingly critical tool for radiologists to overcome clinical, economic, and volume-based challenges,” added Stevens. “And with our recent focus on expanding enterprise sales opportunities, which typically involve engaging with a unique triad of economic, clinical and IT decision-makers at facilities, iCAD’s highly trained, clinically proven technologies are now more easily accessible to hospitals running AI on virtualized infrastructure with NVIDIA GPUs.”

The first AI cancer detection software for digital breast tomosynthesis to be cleared by the FDA, ProFound AI is clinically proven to reduce radiologists' reading time by 52.7 percent, improve radiologists' sensitivity by eight percent and reduce unnecessary patient recall rates by 7.2 percent.ⁱ Additionally, ProFound AI was found to cut reading time by up to 57.4 percent for radiologists reading cases of women with dense breasts.ⁱⁱ

ProFound AI Risk offers the ability to calculate a short-term risk estimation for 2D and 3D mammography, with greater accuracy compared to both the previous version of the risk software based on 2D mammography and traditionally used risk models. The latest version of the software was specifically designed to factor in racial and ethnic backgrounds, as well as clinically relevant global screening guidelines and more than 15 country incidence and mortality reference tables, for alignment with that country's general population.

PowerLook Density Assessment software enables clinicians to automate breast density assessment accurately and reliably, removing the challenges of subjectivity. Built with the latest in deep-learning and compatible with multiple vendors, this advanced solution identifies the patient's anatomy, segments the breast, then measures adipose and fibroglandular tissue and its dispersion to determine the density category in alignment with BI-RADS® 5th Edition lexicon.

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 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.

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

iCAD Investor Relations:
ir@icadmed.com

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ⁱ Conant, E et al. (2019). Improving Accuracy and Efficiency with Concurrent Use of Artificial Intelligence for Digital Breast Tomosynthesis. Radiology: Artificial Intelligence. 1 (4). Accessed via https://pubs.rsna.org/doi/10.1148/ryai.2019180096.
ⁱⁱ Hoffmeister, J. (2018). Artificial Intelligence for Digital Breast Tomosynthesis – Reader Study Results. [White paper]. Accessed via https://www.icadmed.com/assets/dmm253-reader-studies-results-rev-a.pdf