NASHUA, N.H., June 21, 2016 /PRNewswire/ --áiCAD (Nasdaq: ICAD), an industry-leading provider of advanced image analysis,
"We applaud the USPSTF for recognizing CTC as an effective cancer screening tool and hope that this will encourage people of screening age to opt for the exam, which is less invasive and does not require sedation," said Ken Ferry, CEO of iCAD. "iCAD is committed to developing innovative technology to assist radiologists in identifying polyps and enhancing CRC screening workflow, highlighted by VeraLook«, our computer aided detection (CAD) technology for CTC. VeraLook was the first FDA-cleared CAD technology for CTC and a rigorous reader study demonstrated that it achieves significant improvement in polyp detection."
VeraLook uses sophisticated image processing software to identify colon polyps in CTC images, which can help to streamline the reading process and improve workflow for radiologists while supporting greater accuracy, consistency, and productivity in colon cancer screenings. The technology, which is used in conjunction with industry leading advanced CTC software applications, is commercially available in leading healthcare facilities in the U.S., Canada and Europe.
The USPSTF CRC screening recommendations also highlighted clinical evidence indicating that screening can significantly reduce the risk of death from CRC among adults aged 50 to 75 years. The American Cancer Society estimates that 134,000 people will be diagnosed with CRC this year, and about 49,000 will die from it.
"Although the increased availability of advanced screening methods has contributed to a substantial decline in CRC rates in recent years, it continues to be the second leading cause of cancer death among women and men," said Ferry, adding, "these new USPSTF recommendations will hopefully encourage more patients to be screened and help clinicians identify early indicators of cancers."
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, 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. 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.
For iCAD investor relations:á The Ruth GroupZack Kubow, 646-536-7030www.theruthgroup.com [email protected]
For iCAD media inquiries:á Berry & Company Public Relations, LLCJessica Burns, [email protected]
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