iCAD Announces More Than 3,000 Early-Stage Breast Cancer Patients Treated with Intraoperative Radiation Therapy Using the Xoft System

Company to showcase breakthrough one-day breast cancer treatment technology and
host in-booth clinician expert at Physicians’ Education Resource® 34th Annual Miami Breast
Cancer Conference

NASHUA, NH and MIAMI (Booth #T6) March 9, 2017 - 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 that more than 3,000 early-stage breast cancer patients have been treated with intraoperative radiation therapy (IORT) using the Xoft® Axxent® Electronic Brachytherapy (eBx®) System®. The Xoft System and its suite of products will be showcased in the Xoft booth (#T6) during Physicians’ Education Resource® (PER)’s 34th Annual Miami Breast Cancer Conference at the Fontainebleau Miami Beach Hotel in Miami Beach, FL from March 9-12, 2017.

“The growing adoption and utilization of Xoft IORT further validates that it is a safe and effective treatment option, offering valuable benefits to early-stage breast cancer patients who meet specific selection criteria,” said Ken Ferry, President and Chief Executive Officer of iCAD. “The treatment of more than 3,000 patients with IORT using the Xoft System is a significant milestone and highlights the continued commitment by leading clinicians to make this clinically proven treatment option available to their patients.”

IORT is a procedure that allows radiation oncologists and breast cancer surgeons to work together to deliver a full course of radiation treatment in one day to select women diagnosed with early-stage breast cancer. Traditional external beam radiation therapy (EBRT) involves daily radiation treatments for six to eight weeks, while IORT with the Xoft System can be completed in as little as eight minutes. IORT delivers a full course of targeted radiation from inside the body, directly within the tumor cavity, targeting cancer cells and reducing the risk of damage to nearby healthy tissue including tissue in the heart, lungs, and ribs. A growing body of favorable clinical data supports the use of IORT in candidates meeting specific selection criteria.

“IORT with the Xoft System offers patients a number of unique benefits, including shorter treatment times, fewer side effects, reduced costs and added convenience compared to traditional treatment,” said Barbara Schwartzberg, M.D., FACS, breast surgeon, Sarah Cannon/HealthONE, Rose Medical Center. “By treating early-stage breast cancer in just one day, eligible patients are often able to return to their daily lives within days and better maintain their quality of life.”

Dr. Schwartzberg will be present in the Xoft booth (#T6) during exhibit breaks on March 9-11 to discuss her clinical experience with Xoft IORT with conference attendees.

In addition, Olga Ivanov, MD, FACS, medical director, Comprehensive Breast Health Center, Celebration Health, will discuss her clinical experiences with IORT in an oral presentation entitled “Breast IORT – Technical Aspects” on Saturday, March 11 from 4:55 pm to 5:10 pm ET in the Luster Gallerie. Dr. Ivanov will also discuss IORT in an oral presentation entitled “Intraoperative Radiotherapy” on Sunday, March 12 from 8:15 am to 8:30 am ET in the Luster Gallerie.

The multidisciplinary Miami Breast Cancer Conference brings together surgical, medical, and radiation oncology experts with the aim of fostering awareness of state-of-the-art treatments for breast cancer in each therapeutic area, encouraging cross-team cooperation in the clinic.

The Xoft System is FDA-cleared for the treatment of cancer anywhere in the body, including early-stage breast cancer, non-melanoma skin cancer and gynecological cancers.

About Xoft Axxent Electronic Brachytherapy System

The Xoft System is an isotope-free radiation treatment that is FDA cleared, CE marked, and licensed in a growing number of countries for the treatment of cancer anywhere in the body, including treatment of early-stage breast cancer, gynecological cancers and non-melanoma skin cancer. It utilizes a proprietary miniaturized x-ray as the radiation source that delivers precise treatment directly to cancerous areas while sparing healthy tissue and organs. The Xoft System requires only minimal shielding and therefore does not require room redesign or construction investment. Minimal shielding also allows medical personnel to remain in the room with the patient during treatment. The mobility of the Xoft System makes it easy to treat patients at multiple locations and to easily store the system when not in use. The Axxent Hub is a cloud-based oncology collaboration software solution that enables centers to monitor treatment workflow and enhance communication between clinical specialists. Xoft is a wholly owned subsidiary of iCAD, Inc. For more information about Xoft visit www.xoftinc.com, like us on Facebook or follow us on Twitter at @xofticad.

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 improving patient outcomes. 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 or 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, 646-536-7030
www.theruthgroup.com
iCAD@theruthgroup.com

or

For iCAD media inquiries:

Berry & Company Public Relations, LLC
Lynn Granito, 212-253-8881
lgranito@berrypr.com

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All Xoft treatments must be performed with a thorough knowledge of radiation physics, proper planning, dosimetric calculations and knowledge of radio-biological effectiveness; therefore, we require that a radiation therapist/oncologist administer the use of the Xoft Electronic Brachytherapy (eBx) System. We do not support the use of the Xoft System by anyone other than radiation professionals (trained and certified). We rigorously enforce this, as patient safety and efficacy is preeminent to us.

©2017 Xoft®, a subsidiary of iCAD, Inc. All rights reserved. Xoft, the Xoft logo, Axxent, Electronic Brachytherapy System and eBx are registered trademarks of iCAD, Inc.

Reproduction of any of the material contained herein in any format or media without the express written permission of iCAD, Inc. is prohibited.