iCAD to Showcase Breakthrough Early-Stage Breast Cancer Treatment Utilizing the Xoft System at American Society of Breast Surgeons (ASBrS) Annual Meeting

Company to host in-booth presentations by clinical experts to review recent experience with
one-day intraoperative radiation therapy

NASHUA, NH and LAS VEGAS, NV (Booth #101) – April 26, 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 the Company will showcase the Xoft® Axxent® Electronic Brachytherapy (eBx®) System® at The American Society of Breast Surgeons (ASBrS) Annual Meeting in Las Vegas, Nevada from April 26-30, 2017. The Company will also host a series of presentations by leading clinicians at its booth (#101) to discuss strategies and outcomes in early-stage breast cancer patient care with intraoperative radiation therapy (IORT) using the Xoft System.

“With the growing worldwide adoption of the Xoft System, an increasing number of clinicians are recognizing that this revolutionary technology offers a safe and effective treatment option for patients with early-stage breast cancer who meet specific selection criteria,” said Ken Ferry, CEO of iCAD. “We are pleased to highlight the unique clinical experiences of two expert Xoft IORT breast surgeons at this year’s ASBrS meeting and share in their commitment to making innovative, clinically-proven treatment options like IORT available to their patients.”

Among a range of clinical indications, the Xoft System is used to perform IORT, a procedure where breast surgeons and radiation oncologists work together to administer one precise, concentrated dose of radiation to the tumor site at the time of lumpectomy. Traditional breast cancer treatment involves a series of radiation treatments administered five days per week for six to eight weeks. With traditional treatment, radiation is administered from outside the body. With IORT, radiation is delivered from inside the tumor bed, more precisely targeting cancer cells and reducing the risk of damage to nearby healthy areas including the heart, lungs, and ribs. A growing body of favorable clinical data supports the use of IORT in appropriate patients with early-stage breast cancer.

Clinician experts including Craig Wengler, MD, Breast Surgeon, Martin Health System, Stuart, FL and Janie Grumley, MD, FACS, Breast Surgeon, Virginia Mason Hospital & Medical Center, Seattle, WA will present an overview of their recent clinical experience treating patients with Xoft IORT in booth #101 during the meeting. The details regarding their presentations are as follows:

Craig Wengler, MD

Janie Grumley, MD, FACS

“Our adoption of IORT with the Xoft System has allowed my practice to offer patients many unique and valuable benefits including shorter treatment times, reduced costs, fewer side effects and added convenience compared to traditional treatment,” said Craig Wengler, MD, Breast Surgeon, Martin Health System, Stuart, FL. “Because the treatment is delivered in one dose, my patients are able to return to their normal daily activities within days and better maintain their regular routine and quality of life.”

In addition, researchers from Hoag Memorial Hospital Presbyterian of Newport Beach, CA will present four-year results of their experience using the Xoft System for the treatment of early-stage breast cancer patients with IORT in Poster #256175: Four-Year Results of a Single Site X-Ray IORT Trial for Early Breast Cancer during the Poster Session and Reception on Saturday, April 29 from 7:30-8:30 pm PT.

The Xoft System is FDA cleared, CE marked and licensed in a growing number of countries for the treatment of cancer anywhere in the body, including early-stage breast cancer, gynecological cancers and non-melanoma skin cancer.

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® 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”, “would”, “could”, “consider”, “project”, “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, including the 10-K for the year ended December 31, 2016, 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:

LifeSci Advisors
Bob Yedid, (646)-597-6989
Bob@lifesciadvisors.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.

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