iCAD Reports Continued Growth in Adoption and Utilization of Its Xoft System to Treat Skin Cancer

  iCAD Reports Continued Growth in Adoption and Utilization of Its Xoft System
  to Treat Skin Cancer

    More Than 4,000 Patients Treated to Date; Increasing Clinical Evidence
Demonstrates Growing Support for the Adoption of Xoft Electronic Brachytherapy
          for the Non-Invasive Treatment of Non-Melanoma Skin Cancer

Business Wire

NASHUA, N.H. -- April 17, 2014

iCAD, Inc. (Nasdaq: ICAD), a leading provider of advanced imaging and
radiation therapy for the early identification and treatment of cancer, today
announced that more than 4,000 non-melanoma skin cancer (NMSC) patients have
been treated using the Xoft® Axxent® Electronic Brachytherapy System®
demonstrating continued growth and utilization of the system among radiation
oncologists and dermatologists. In addition, a growing body of clinical
evidence provides ongoing support for the use of the Xoft System for this skin
cancer application. The Xoft System offers an alternative, pain-free treatment
option for patients who may not be candidates for surgery or who are concerned
with cosmetic outcomes associated with surgery. The Xoft System is the only
electronic brachytherapy (eBx ®) system with peer-reviewed published data in
support of this application.

“These latest milestones demonstrate the growing clinical support for the Xoft
System as an attractive, non-surgical alternative to treat non-melanoma skin
cancer,” said Ken Ferry, President and CEO of iCAD. “Through strategic
partnerships and a growing customer base, the Xoft System is now available to
an expanded patient population at both radiation oncology and dermatology
centers across the country. The increased adoption of the Xoft System by
leading clinicians combined with positive clinical data supports the continued
growth and more widespread adoption of electronic brachytherapy.”

Recently, significant clinical data has been presented at prestigious medical
conferences highlighting the demonstrated success of eBx in the clinical
treatment of NMSC. These include:

  *72nd American Academy of Dermatology (AAD) Annual Meeting (March
    2013-Denver) Positive three-year follow up data were presented by Ajay
    Bhatnagar, MD, MBA, Cancer Treatment Services Arizona, Affiliate of 21^st
    Century Oncology, Adjunct Assistant Professor of Radiation Oncology,
    University of Pittsburgh School of Medicine and DermEbx. Dr. Bhatnagar
    presented clinical outcomes data on 187 patients with 275 NMSC lesions
    treated using eight fractions with the Xoft System, showing excellent
    cosmesis, low toxicity, and no recurrences at three years post-treatment.
  *American Brachytherapy Society (ABS) Annual Meeting (April 2013-San Diego)
    Clinical outcomes data were presented by Stephen Doggett, MD, a board
    certified radiation oncologist with Aegis Oncology. Dr. Doggett’s study
    included 561 lesions in 364 patients treated with the Xoft System and
    showed that NMSC treatable lesions normally treated with standard
    fractionation teletherapy, Mohs or excision can be treated with eight
    fractions of eBx with comparable cure and complication rates and excellent
    cosmetic results 19 months following treatment of the first patient.
  *Also at ABS, poster presentations by Sujatha Pai, MD, MS, DABMP, Director,
    Division of Medical Physics at Radion, Inc. and Rakesh Patel, MD,
    Director, The Targeted Radiation Institute of VMOC in Pleasanton, Calif.,
    provided a comparative dosimetry analysis including the Xoft System for
    skin applications and the Air Kerma strength and output of the Xoft Axxent
    source as related to the development of a robust Quality Assurance
    program.

“Electronic brachytherapy is an excellent alternative for patients with
non-melanoma skin cancer seeking a more convenient, non-invasive treatment
option,” said Dr. Stephen Doggett. “Integrating the Xoft System allows a
dermatology or radiation oncology practice to expand treatment access to those
patients who may not be candidates for surgery or who are concerned with
cosmetic outcomes associated with surgery with minimal disruption to existing
patient flow.”

The Xoft System enables clinicians to deliver radiation treatment under
radiation oncology supervision in virtually any clinical setting with minimal
shielding, making it a viable treatment option across multiple therapeutic
areas. The unique mobility of the system allows it to be easily transported to
multiple locations and stored when not in use.

About Non-Melanoma Skin Cancer

NMSC, identified as either basal cell carcinoma or squamous cell carcinoma, is
not only the most common type of skin cancer, it is the most common type of
cancer in humans. These cancers commonly appear on sun-exposed areas of the
body such as the face, ears, neck, lips, and backs of the hands. NMSC affects
approximately 2.2 million Americans each year.

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 gynecological cancers. For more information, call (877) iCADnow, or visit
www.icadmed.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: (not latest)x`

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:

Investor Contact:
LHA
Anne Marie Fields, 212-838-3777
afields@lhai.com
or
Media Contact:
MSLGROUP
Rachel Gross or Wendy Ryan, 781-684-0770
icad@mslgroup.com
 
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