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CORRECTION - iCAD Advances Fight Against Breast Cancer with FDA-cleared, Next-Generation AI Solutions and ProFound Health Partnership with Cascaid Health at RSNA 2024
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ProFound Health, a Virtual Care Partnership with Cascaid Health, to Democratize Access to AI-Powered Mammography for All Patients - Launching Q1 2025 NASHUA, N.H., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Further to a release issued under the same headline on November 26, 2024 13:00 ET by iCAD, Inc., the headline and fourth paragraph have been updated to acknowledge a pending trademark application for the mark "SecondReadAI” by Lunit, Inc. The corrected release follows: iCAD, Inc . (NASDAQ: ICAD) ("iCAD” or the "Company”), a global leader in clinically proven AI-powered cancer detection solutions, will showcase its groundbreaking breast health AI technologies at the Radiological Society of North America (RSNA) 2024 Annual Meeting in Chicago, December 1-5. Key highlights include the recent FDA-cleared ProFound Detection Version 4, clinical research presentations, and a new partnership with Cascaid Health to expand access to AI-driven breast health solutions. iCAD and Cascaid Health Partner to Expand Access to AI-Driven Breast Health In alignment with their vision to enable all women to access to AI-powered breast health services, iCAD and Cascaid Health will unveil their collaboration to integrate the ProFound AI Breast Health Suite into Cascaid's leading edge digital health marketplace and access to care platform. Scheduled for beta launch in Q1 2025, this partnership between iCAD and Cascaid Health will launch ProFound Health, a virtual care model powered by Cascaid. ProFound Health will enable women who have not otherwise received an AI-read on their screening mammogram to access iCAD's advanced breast health technology. The initiative reflects both companies' dedication to democratizing access to life-saving technology and creating a world where cancer can't hide. ProFound Health partnership will offer virtual second reads of mammograms leveraging ProFound AI Breast Health Suite, an AI service providing patients without access to AI an opportunity to receive enhanced breast health insights. The initial service will include a second read detection, breast density assessment, and cancer risk evaluation from a Cascaid-affiliated specialist network of clinical experts in women's health through Cascaid's seamlessly integrated digital platform. By combining AI insights with expert clinical reviews, ProFound Health ensures that patients everywhere, regardless of location, can receive precision screening and personalized care. "ProFound Health empowers patients with access to critical information about their mammograms and overall breast health, allowing them to make informed decisions and take control of their care journey,” said Dana Brown, CEO and President of iCAD. "Our collaboration with Cascaid Health's network of clinicians and AI-powered solutions is part of our ongoing commitment to bridging gaps in breast cancer care, ensuring all patients everywhere can access the accuracy and timeliness of AI solutions, and ultimately transforming patient outcomes.” "We believe that every woman should have access to the best possible information about her breast health and a high quality, personalized care plan to catch cancer early or prevent it altogether. Through our partnership with iCAD, we're addressing a critical need to improve access to advanced breast health services,” said Dr. Candace Westgate, Director of Women's Health for Cascaid Health. "ProFound Health is more than just a technological innovation, it's a lifeline that empowers patients and healthcare providers with actionable insights, bridging care gaps and ensuring equitable access to precision screening and personalized breast cancer care.” Advancing Next Generation AI Breast Health Solutions at RSNA 2024 In addition to ProFound Health, iCAD will feature its flagship ProFound Detection Version 4.0, which recently received FDA clearance. This next-generation AI solution enhances breast cancer detection by incorporating prior exams into current analysis, improving the detection of aggressive cancers by 22%, reducing cases with no marks by 18%, and providing clinicians with more reliable insights for better decision-making. "Every two minutes, someone loses their life to breast cancer-a disease affecting over 2.3 million women annually. Early detection is critical, as five-year survival rates exceed 99% for stage 1 disease. Yet traditional mammography misses over 20% of breast cancers, particularly in dense tissue, resulting in potentially avoidable late-stage diagnoses,” said Dana Brown, President and CEO of iCAD, Inc. "ProFound Detection Version 4 revolutionizes breast cancer detection by uniquely integrating prior exams into its analysis. This advanced capability enhances sensitivity, sharpens precision, and provides radiologists with a deeper, longitudinal view of a patient's breast health. By enabling earlier and more accurate detection, especially in dense tissue, ProFound Detection Version 4 sets a new standard in breast health AI, empowering providers to improve outcomes and save lives. Together with our strategic partnerships, we are advancing the fight against cancer and making a meaningful difference for patients worldwide.” ICAD'S RSNA 2024 Program Highlights AI-Powered Insights: Advancing Cancer Detection iCAD will be hosting a customer appreciation event, "AI in the Sky: Discover ProFound Insights & Breast Health Innovations," on Sunday, December 1, at 6:00 PM at VU Rooftop in Chicago. Network with industry experts, hear insights from key opinion leaders including iCAD's CEO and Board of Directors, and explore how iCAD's solutions are transforming breast health. Visit the iCAD RSNA 2024 event page for the latest updates, event details, and partnership announcements. About Cascaid Health Cascaid Health Inc. delivers a personalized, expert-driven proactive and preventative approach, supported by an integrated platform designed to promote longevity, detect issues early, reverse risks, and optimize healthspan for all. The company's platform offers a curated marketplace featuring innovative products, services, and access to world-class multidisciplinary experts in women's health, precision health, lifestyle medicine, wellness, and performance. Cascaid Health Inc. is committed to advancing health equity, ensuring that cutting-edge healthcare solutions are accessible to everyone. About iCAD, Inc. iCAD, Inc. (NASDAQ: ICAD) is a global leader on a mission to create a world where cancer can't hide by providing clinically proven AI-powered solutions that enable medical providers to accurately and reliably detect cancer earlier and improve patient outcomes. Headquartered in Nashua, N.H., iCAD's industry-leading ProFound Breast Health Suite provides AI-powered mammography analysis for breast cancer detection, density assessment and risk evaluation. Used by thousands of providers serving millions of patients, ProFound is available in over 50 countries. In the last five years alone, iCAD estimates reading more than 40 million mammograms worldwide, with nearly 30% being tomosynthesis. For more information, including the latest in regulatory clearances, please visit www.icadmed.com . Forward-Looking Statements Certain statements contained in this News Release constitute "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the expansion of access to the Company's products, improvement of performance, acceleration of adoption, expected benefits of ProFound AI®, the benefits of the Company's products, and future prospects for the Company's technology platforms and products. Such forward-looking statements involve a number of known and unknown risks, uncertainties, and other factors that 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 achieve business and strategic objectives, the willingness of patients to undergo mammography screening, whether mammography screening will be treated as an essential procedure, whether ProFound AI will improve reading efficiency, improve specificity and sensitivity, reduce false positives and otherwise prove to be more beneficial for patients and clinicians, the impact of supply and manufacturing constraints or difficulties on our ability to fulfill our orders, uncertainty of future sales levels, to defend itself in litigation matters, protection of patents and other proprietary rights, product market acceptance, possible technological obsolescence of products, increased competition, 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 https://www.icadmed.com and on the SEC's website at http://www.sec.gov . CONTACTS Media Inquiries: [email protected] Investor Inquiries: John Nesbett/Rosalyn Christian IMS Investor Relations [email protected]Jaylen Brown scores 29 points before Celtics beat Timberwolves 107-105 with late defensive standCLUTE — Brazosport ISD could ask voters to approve a $167 million bond request to improve district facilities based on recommendations from a committee comprised of stakeholders and community members. The district formed a bond planning committee in October to assess Brazosport ISD's needs, engage with the community and develop recommendations for the board. The committee includes parents, teachers, community members, district staff and business leaders. “The committee’s primary objective was to assess district needs by evaluating current facilities, infrastructure and educational requirements to establish priorities for a future bond proposal,” Chief Financial Officer Rebecca Kelley said. Trustees received a progress report from the committee during its meeting Monday night. The hope is to have a project list finished in time for the request to be on the May 3 ballot. The 2025 bond request is estimated to be $167 million. About 58 percent of the total, or $96.9 million, would go for interior and exterior improvements, including electrical, plumbing and mechanical-related items for facilities. Brazosport High School, Brazoswood High School’s Ninth Grade Center, Clute Intermediate, Lake Jackson Intermediate, Gladys Polk Elementary and Grady Rasco Middle School all need roof replacements. Funds are also needed to demolish the old Brazoswood Natatorium and address the structural issues, Kelley said. “Funds are also included to construct the vestibule and taxi lane at FIS,” Kelley said. About 5 percent of the proposed list, or $7.8 million, would provide safety and security-related improvements, security cameras and gun detection software. About $18.1 million would cover cover curriculum and instructional resources, Kelley said. “This is an area where we can now build in the cost of instructional software that we pay for annually, which will help elevate the general fund deficit,” she said. Furniture replacement is needed at Brazosport High School, Clute Intermediate, Freeport Intermediate, Lake Jackson Intermediate and Lanier Elementary/Middle School, and extracurricular programs, including band, athletics and fine arts, would receive about $3.79 million. Technology needs would receive $23.5 million, which would go toward replacing Chromebooks, computers for staff and classroom projections. Groundskeeping, custodial, service vehicles and fire and alarm system upgrades would receive $9.2 million. and $3.7 million would be used for transportation, including a new school bus and fueling station. Child nutrition would get about 2.5 percent of the bond for kitchen equipment and to replace the department's vehicle. The committee had three meetings to review the bond programs' history, during which members reviewed tax rates and changes to legal propositions since the voters approved the 2019 bond program that awarded $267 million to address new construction, new facilities, maintenance, safety and security. The approval rate was 78.67 percent. “Bond programs are vital to funding public schools,” Kelley said. “They provide a mechanism separate from the maintenance and operation budget to construct and maintenance facilities, along with purchasing capital equipment needed to continue to operate the district.” It has helped the fine arts, career and technology programs and athletic needs, she said. The board received a progress report on the 2019 bond program during its meeting. Much of the planned projects have been completed, Director of Planning and Construction Alec Journeay said. “As of December 11, we have total P.O.’s issued of $260,526,000 and approximately 89.4 percent completed or in progress,” he said. Journeay discussed the Brazoswood High School pool replacement. The outdoor pool will be behind the school near Mammoth Lake and feature a 25-meter by 25-meter competition area with three additional lanes for warmups. It will be temperature-controlled and include two diving boards, a scoreboard and exterior lighting, according to district documents. Security measures will include a perimeter fence and video cameras. The pool also will have a dedicated equipment building with two restrooms, and bleachers will be installed to accommodate fans during events. Brazosport ISD trustees approved $7.622 million with Stewart Builders as the construction manager at-risk for the project. The money is being reallocated from the 2019 bond program, district officials have said. A temporary driveway was built, and grass was cut in the proposed pool area. “They are currently working on their layouts for the mechanical, electrical and all that,” Journeay said. Jouneay discussed additions and renovations for the child nutrition, maintenance and transportation departments. Part of the update includes staff and bus parking. Bus parking will be restriped, and staff parking will relocated behind Freeport Intermediate. A new building for child nutrition, maintenance and transportation will have an efficient and spacious interior. The district is in the documents review part of the project with an estimated completion by August 2026. “I do want to thank Mr. Journeay for all his dedicated service to our district,” Superintendent Danny Massey said. “He’s literally touched every single facility in our district; he’s touched a lot of them more times than once.”
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