New Research Supporting ProFound AI Presented at European Congress of Radiology Online Meeting

Company showcased expanded ProFound AI platform, including ProFound AI Risk, the world's first clinical decision support tool that provides a highly accurate short-term risk estimation specific to each woman

NASHUA, N.H., March 08, 2021 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced new research supporting ProFound AI® was presented at the European Congress of Radiology (ECR) 2021 Online meeting, taking place March 3-10, 2021. During the congress, the Company also showcased the full suite of its Breast Health Solutions in the virtual iCAD booth (#1608), including ProFound AI Risk, the world's first commercially available clinical decision support tool that provides a highly accurate short-term risk estimation specific to each woman based on data from a screening mammogram.

"iCAD's powerful artificial intelligence (AI) solutions are clinically proven to offer unparalleled benefits to both clinicians and patients," said Michael Klein, Chairman and CEO of iCAD. "ProFound AI empowers doctors to find breast cancers earlier, when they may be more easily treated. Specifically, this high-performing deep learning technology offers marked improvements in sensitivity and specificity and a reduction in the rate of false positives, which can reduce unnecessary callbacks for patients. Furthermore, new research presented at ECR demonstrates how ProFound AI helps to improve radiologists' workflow and efficiency."

Emily F. Conant, MD, Division Chief of Breast Imaging at the University of Pennsylvania Medical Center, presented findings from a retrospective analysis involving ProFound AI for Digital Breast Tomosynthesis (DBT) in a research presentation session (RPS-605) titled "Use of an artificial intelligence software to identify low-likelihood of cancer exams collected across four commercial digital tomosynthesis screening systems."

Using consecutive cases from 18 sites in the United States and three sites in France, the study concluded that ProFound AI for DBT accurately identified 33.4 percent of screening DBT exams to triage with 0 percent of false negative results, based solely on the ProFound AI Case Score. When researchers also factored in breast density and age, ProFound AI identified up to 58.6 percent of normal cases with no false negatives.

"Our research adds to the growing body of evidence demonstrating the potential value that AI may offer in the clinical setting," said Dr. Conant. "Not only may AI algorithms help increase radiologists' confidence in interpreting DBT studies, it may also help improve reading efficiency. Our retrospective study shows that AI has the potential to correctly identify a third of DBT screening exams as having no malignancy or an extremely low likelihood of malignancy. This AI-triaging could help radiologists determine which cases may need more intensive analysis."

In addition, new findings from a recent study supporting ProFound AI Risk as a short-term, image-based cancer risk prediction model were presented at the meeting in a Special Focus Session by Per Hall, MD, Professor/Senior Physician at the Karolinska Institutet (SF 16 -2). During this discussion, Professor Hall reviewed the Karolinska Institutet's research involving ProFound AI Risk and the identification of women at high risk and at low risk of developing breast cancer in between screening mammograms.

"The Profound AI Risk model is a validated short-term risk model that provides clinically relevant data about patients' individual risk of developing cancer between screenings," said Professor Hall. "Our study data show that the ProFound AI Risk model offers significantly superior performance compared to any other current model."

Additionally, ECR Channel 1 featured a video presentation by Axel Gräwingholt, MD, Radiologie am Theater in Paderborn, Germany, titled "How ProFound AI is Used in Clinical Routine for Breast Screening, Diagnostics, and Risk Assessment via a Clinical Case Study" on Saturday, March 6.

ProFound AI Risk is a clinical decision support tool that combines aspects within mammographic images, such as complexity, asymmetry, and breast density with patient age, to provide a highly accurate short-term risk estimation that is specific to each woman. It is part of iCAD's full suite of Breast Health Solutions, which also includes the latest generation of ProFound AI for Digital Breast Tomosynthesis (DBT), the first AI cancer detection software for DBT to be cleared by the FDA, as well as ProFound AI for 2D Mammography,* and PowerLook Density Assessment, iCAD's automated breast density assessment solution.

Trained with one of the largest available DBT datasets, ProFound AI rapidly and accurately analyzes each DBT image or slice, and provides radiologists with key information, such as Certainty of Finding and Case Scores, which assists in clinical decision-making and improving reading efficiency. Featuring the latest in deep-learning artificial intelligence, the algorithm allows for continuously improved performance in detection via ongoing updates. ProFound AI for DBT and 2D mammography* is compatible with a majority of leading DBT and digital 2D mammography systems.

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 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.

*CE Mark countries only.

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

Investor Relations:
Jeremy Feffer, LifeSci Advisors
+1 (212) 915-2568
jeremy@lifesciadvisors.com

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