NASHUA, N.H., July 7, 2015 /PRNewswire/ -- iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapy for the early identification and treatment of cancer, today announced the launch of the iReveal® breast density module as the latest addition to the Company’s PowerLook Advanced Mammography Platform (AMP)®. The iReveal software is designed to deliver automated, rapid and reproducible assessments of breast density to help identify patients that may experience reduced sensitivity to digital mammography due to dense breast tissue.
An estimated 40% of women in the US have dense breast tissue that may mask the presence of cancerous tissue in standard mammography. In women with dense breasts, mammography sensitivity is reduced to approximately 48% from an average of 98%. As breast density increases, the risk of developing breast cancer can also increase according to the American Cancer Society. Currently, legislation has been passed in 22 states requiring physicians to report breast density to patients.
iReveal uses an advanced software program to assess breast density based on the range of categories established by the American College of Radiology’s Breast Imaging Reporting and Data System (BI-RADS®), automating the same analytical approach used by many experienced radiologists. In many cases, patients with dense breast tissue may be recommended for additional screening exams including use of breast tomosynthesis.
“The launch of iReveal is another example of iCAD’s commitment to meeting the ever-expanding needs of healthcare providers and patients in cancer detection and treatment. This solution offers a standardized breast density measurement that eliminates reader variability and classifies density using the same factors considered by experienced radiologists,” said Ken Ferry, CEO of iCAD. “With iReveal, radiologists may be better able to identify women with dense breasts who experience decreased sensitivity to cancer detection with mammography.”
Mr. Ferry added, “With the increasing support for the reporting of breast density across the US, there is a significant opportunity to drive adoption of iReveal by existing users of the PowerLook AMP platform and with new customers, which represents an incremental $100 million market opportunity over the next few years. Longer-term, we plan to integrate the iReveal technology into our Tomosynthesis CAD product, which is the next large growth opportunity for our Cancer Detection business.”
iCAD’s PowerLook AMP platform is a scalable solution providing facilities with the ability to add a range of options in computer aided detection (CAD), lesion analysis tools, automated breast density assessments, quality assurance and resource planning functionality.
About iCAD, Inc.
iCAD delivers innovative cancer detection and radiation therapy solutions and services that enable clinicians to find and treat cancers earlier and faster while enhancing patient care. iCAD offers a comprehensive range of upgradeable computer aided detection (CAD) and workflow solutions to support rapid and accurate detection of breast, prostate and colorectal cancers. iCAD’s Xoft® Axxent® Electronic Brachytherapy (eBx®) System® is a painless, non-invasive technology that delivers high dose rate, low energy radiation, which targets cancer while minimizing exposure to surrounding healthy tissue. The Xoft System is FDA cleared and CE marked for use anywhere in the body, including treatment of non-melanoma skin cancer, early-stage breast cancer and gynecological cancers. The comprehensive iCAD technology platforms include advanced hardware and software as well as management services designed to support cancer detection and radiation therapy treatments. For more information, visit www.icadmed.com or www.xoftinc.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, the impact of supply and manufacturing constraints or difficulties, 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.
Contact:
For iCAD investor relations:
The Ruth Group
Zack Kubow / Courtney Dugan, 646-536-7030 /7024
www.theruthgroup.com
iCAD@theruthgroup.com
or
For iCAD media inquiries:
Berry & Company Public Relations, LLC
Lynn Granito, 212-253-8881
lgranito@berrypr.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/icad-announces-launch-of-ireveal-breast-density-analysis-solution-as-latest-addition-to-powerlook-advanced-mammography-platform-300109315.html
SOURCE iCAD, Inc.
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