NASHUA, N.H., Jan. 22 /PRNewswire-FirstCall/ -- iCAD, Inc. , an industry-leading provider of Computer-Aided Detection (CAD) solutions for the early identification of cancer, today announced an agreement with ACR Image Metrix to conduct a multi-reader clinical study of iCAD's CT Colon product, for use with Virtual Colonoscopy. With this partnership, iCAD will work with ACR Image Metrix to develop and execute a clinical study to support U.S. Food and Drug Administration (FDA) approval of CT Colon CAD. ACR Image Metrix was launched by the American College of Radiology (ACR) to leverage over thirty years of experience in conducting clinical research in part through the American College of Radiology Imaging Network (ACRIN). The ACR and the ACRIN have a proven history in developing trials that standardize the use of imaging technologies, image transmission and archive, reduce the size and cost of trials and produce more reliable results.
"This partnership represents a major step forward in the development of our Colon CAD product," said Ken Ferry, President and Chief Executive Officer of iCAD. "We feel that working with ACR Image Metrix, a group with significant expertise in radiology clinical trial management, will put us in an optimal position to submit solid clinical data to FDA and meet our goals for this important product line."
Although 140,000 people in the U.S. will be diagnosed with colon cancer this year, the good news is it is one of the most treatable cancers when detected early. More than 82 million Americans are over 50 and are eligible for colorectal cancer screening, however the test is significantly underutilized, due at least in part to the invasive nature of current screening procedures. Results from recent trials showing the effectiveness of Virtual Colonoscopy as a screening procedure coupled with recent legislation introduced to establish Medicare reimbursement for the procedure are likely to expand the options available for colorectal cancer screening and increase utilization of Virtual Colonoscopy.
"It is clear from the low compliance levels that we need more options in colon cancer screening," said Bruce J. Hillman, M.D., F.A.C.R., ACR Image Metrix Director of Scientific Affairs. "We feel that CT Colonography has the potential to drastically improve colon cancer screening and we look forward to exploring how CAD can impact and enhance this new option for detecting polyps." Dr. Hillman was the Chair of ACRIN and played a pivotal role in advancing several national trials including the National CT Colonography Trial that recently demonstrated that CTC is highly accurate for the detection of intermediate and large polyps and that the accuracy of CTC is similar to colonoscopy.
About ACR Image Metrix
ACR Image Metrix is a subsidiary of the American College of Radiology (ACR), the premier professional society serving more than 32,000 radiologists committed to ensuring that imaging is safe, effective, and accessible to all patients. ACR Image Metrix is based on the successes of ACRIN(R), the NCI- funded clinical trials cooperative group established in 1999 to assess emerging imaging technologies. ACRIN(R)'s clinical trials have involved as few as 65 to more than 50,000 subjects and have handled over 50 million images. The ACRIN(R) portfolio includes such high-profile studies as the Digital Mammographic Imaging Screening Trial (DMIST) and the National Lung Cancer Screening Trial (NLST).
About iCAD, Inc.
iCAD, Inc. is an industry-leading provider of Computer- Aided Detection (CAD) solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing cancer earlier. iCAD offers a comprehensive range of high-performance, upgradeable CAD systems for the high, mid and low volume mammography markets. iCAD is entrusted with the task of early cancer detection by over 1500 women's healthcare centers worldwide. For more information, call +1 877 iCADnow or visit www.icadmed.com.
ddeptula@icadmed.com
For iCAD Investor Relations, contact Anne Marie Fields of Lippert/Heilshorn &
Associates at 212-838-3777 x6604 or via email at icad@lhai.com
For iCAD Public Relations, contact Wendy Ryan of Schwartz Communications at
781-684-0770 or via email at icad@schwartz-pr.com
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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 risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, product market acceptance, possible technological obsolescence, increased competition, customer concentration and other risks detailed in the Company's filings with the Securities and Exchange Commission. The words "believe", "demonstrate", "intend", "expect", "estimate", "anticipate", "likely", 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.
CONTACT: Darlene Deptula-Hicks, EVP and CFO of iCAD, Inc.,
+1-603-882-5200, Ext. 7944, ddeptula@icadmed.com; Investor Relations, Anne
Marie Fields of Lippert-Heilshorn & Associates, +1-212-838-3777, Ext. 6604,
icad@lhai.com, for iCAD, Inc.; or Public Relations, Wendy Ryan of Schwartz
Communications, +1-781-684-0770, icad@schwartz-pr.com, for iCAD, Inc.
Web site: http://www.icadmed.com/
