iCAD Reports Growing Adoption and Utilization of Its Xoft System for Breast and Skin Cancers

  iCAD Reports Growing Adoption and Utilization of Its Xoft System for Breast
  and Skin Cancers

    Company Announces More Than 3,000 Skin Cancer Patients Treated to Date

Business Wire

NASHUA, N.H. -- November 20, 2013

iCAD, Inc. (Nasdaq: ICAD), a leading provider of advanced imaging and
radiation therapy for the early identification and treatment of cancer, today
announced growing demand, adoption and clinical evidence for its Xoft® Axxent®
Electronic Brachytherapy System® for the treatment of early-stage breast
cancer and non-melanoma skin cancer.

“We are seeing significant growth in our radiation therapy business across
multiple therapeutic areas, active enrollment in post-market studies and a
growing body of clinical data in support of the Xoft System, all of which are
driving momentum for the company,” said Ken Ferry, President and CEO of iCAD.
“The use of our system to treat non-melanoma skin cancer continues to expand
rapidly, evidenced by more than 3,000 patients treated to date using the Xoft
System, the only electronic brachytherapy system with peer-reviewed published
data for this application.”

Leading Medical Centers Adopt the Xoft System

Some of the latest medical centers to adopt the Xoft System include City of
Hope (Duarte, Calif.), Staten Island University Hospital (Staten Island, NY),
Strimling Dermatology, Laser & Vein Institute (Las Vegas, Nev.), Mobile Skin
Cancer Radiation Specialists (Phoenix, Ariz.) and University of Oklahoma
Breast Institute (Oklahoma City, Okla.)

Growing Clinical Evidence

A prospective, multi-center, clinical trial evaluating the safety, efficacy
and cosmetic outcomes associated with Intraoperative Radiation Therapy (IORT)
for early-stage breast cancer with the Xoft System, continues to gain
momentum. To date, 19 medical centers across the U.S. have enrolled more than
180 patients.

“The Xoft System allows us to offer our patients with early-stage breast
cancer an advanced treatment option that eliminates many of the burdens
commonly associated with post-surgical radiation treatment,” said Laura
Kruper, M.D., Breast Surgeon and Director of the Rita Cooper Finkel and J.
William Finkel Women’s Health Centerat City of Hope Hospital. “The Xoft
System delivers a full course of radiation therapy at the time of lumpectomy
surgery, minimizing exposure to surrounding healthy tissue and organs and
replacing weeks of follow up treatment with just one dose.”

Clinical outcomes data on patients with non-melanoma skin cancer treated with
the Xoft System showing excellent cosmesis and acceptable toxicity with no
recurrences at up to three years post-treatment, was presented by Ajay
Bhatnagar, M.D., MBA, Cancer Treatment Services Arizona, Affiliate of 21^st
Century Oncology, Adjunct Assistant Professor of Radiation Oncology,
University of Pittsburgh School of Medicine and Chief Medical Officer,
DermEbx, at the American Society of Radiation Oncology’s (ASTRO) 55^th Annual
Meeting in September 2013.

“Electronic Brachytherapy is an excellent alternative for patients with
non-melanoma skin cancer seeking a more convenient, non-invasive treatment
option,” said Dr. Bhatnagar. “The Xoft System provides patients, who may not
be candidates for surgery, a safe and effective treatment option. Compared to
traditional radiation therapy, the Xoft System delivers a full course of
treatment in a much shorter time frame, which helps increase compliance,
leading to better patient outcomes.”

About Xoft Axxent Electronic Brachytherapy System

The Xoft System is an isotope-free radiation treatment cleared by the U.S.
Food and Drug Administration and CE marked in the EU for use anywhere in the
body, including for the 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. Xoft is a wholly owned subsidiary of iCAD,
Inc. For more information about Xoft visit www.xoftinc.com.

About iCAD, Inc.

iCAD is an industry-leading provider of Computer-Aided Detection (CAD)
technologies, advanced image analysis, workflow solutions and radiation
therapies for the early identification and treatment of common cancers. iCAD
offers a comprehensive range of high-performance, upgradeable CAD solutions
for mammography and advanced image analysis and workflow solutions for
Magnetic Resonance Imaging, for breast and prostate cancers and Computed
Tomography for colorectal cancer. iCAD’s Xoft System, offers radiation
treatment for early-stage breast cancer that can be administered in the form
of Intraoperative Radiation Therapy or accelerated partial breast irradiation.
The Xoft System is also cleared for the treatment of non-melanoma skin cancer
and gynelogical cancers. For more information, call (877) iCADnow, or visit
www.icadmed.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, the risks relating
to the Company’s acquisition of Xoft including, the expected benefits of the
acquisition may not be achieved in a timely manner, or at all; the Xoft
business operations may not be successfully integrated with iCAD’s and iCAD
may be unable to achieve the expected synergies, business and strategic
objectives following the transaction, 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. 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
Kevin Burns, 937-431-7967
kburns@icadmed.com
or
For iCAD investor inquiries
LHA
Anne Marie Fields, 212-838-3777
afields@lhai.com
or
For iCAD media inquiries
Schwartz MSL
Rachel Gross, 781-684-0770
icad@schwartzmsl.com
 
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