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iCAD Announces Installation of Xoft Electronic Brachytherapy Systems in Two Veterinary Practices as Part of Agreement with Soun

^{Published on 2011-07-27 11:41:10 - Market Wire}
 

NASHUA, N.H.--([ BUSINESS WIRE ])--iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapies for the early identification and treatment of cancer, today announced the installation of two veterinary Xoft Axxent^® eBxa" electronic brachytherapy systems at veterinary clinics in Rhode Island and New York. The two systems were recently placed as the result of an exclusive agreement established last year with Sound-Eklina", a division of VCA Antech and the worldwide leader in veterinary imaging.

"Electronic Brachytherapy has proven valuable for the treatment of breast, skin and endometrial cancers. This strategic partnership with Sound-Eklin not only allows us to make improvements to the world of veterinary oncology, but also continues our mission of finding new ways to leverage this platform technology to benefit additional markets"

aElectronic Brachytherapy has proven valuable for the treatment of breast, skin and endometrial cancers. This strategic partnership with Sound-Eklin not only allows us to make improvements to the world of veterinary oncology, but also continues our mission of finding new ways to leverage this platform technology to benefit additional markets,a said Ken Ferry, President and CEO of iCAD.

Typically, radiation therapy for cancer treatment in animals involves external radiation therapy, a beam of high-energy X-rays delivered externally to the location of the tumor. External beam therapy is delivered in dozens of fractions, requiring a pet owner to commit to a treatment plan that can be both burdensome and costly. The Axxent System uses a proprietary isotope-free miniaturized X-ray source to deliver radiation in minimally shielded environments directly to the cancerous tumor bed a" enabling the treatment of smaller tumors, reducing radiation exposure to healthy tissue and allowing radiation therapy to be completed in fewer sessions.

aIn veterinary oncology, the goal is always to deliver appropriate and effective care to animals, while being sensitive to the needs of the pet owner,a Greg Stoutenburgh, VP of Marketing for Sound-Eklin. aThe Axxent System and electronic brachytherapy enables veterinarians to provide new hope to their patients and clients - by delivering radiation in a targeted way, so they can minimize harmful radiation exposure to healthy tissue while making radiation therapy more feasible and accessible for pet owners.a

Designed for the delivery of radiation oncology in medical and veterinary practices, the Axxent System is cleared by the U.S. Food & Drug Administration (FDA) for the treatment of early stage breast cancer, skin cancer and endometrial cancer. The system is also cleared for use in the treatment of other cancers or conditions where radiation therapy is indicated including Intraoperative Radiation Therapy (IORT). As a platform technology, the Axxent System is designed to deliver non-radioactive therapy directly to cancer sites with minimal radiation exposure to surrounding healthy tissue.

About Sound-Eklin

Based in Carlsbad, California, Sound-Eklin produces the most widely accepted and used digital radiography and PACS systems in the veterinary industry with more than 5,000 installations to date. Sound-Eklin holds leadership positions in Ultrasound, Digital Radiography, and Education. Sound-Eklin is a division of VCA ANTECH, INC. (NASD: WOOF), and is dedicated to the field of veterinary imaging and education. VCA ANTECH also owns, operates and manages the largest network of freestanding veterinary hospitals and veterinary-exclusive clinical laboratories in the country and employs approximately 12,000 professionals throughout North America. For more information visit [ www.soundeklin.com ].

About iCAD, Inc.

iCAD, Inc. is an industry-leading provider of advanced image analysis and workflow solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing the most prevalent cancers earlier. iCAD offers a comprehensive range of high-performance, upgradeable Computer-Aided Detection (CAD) systems and workflow solutions for mammography, Magnetic Resonance Imaging (MRI) and Computed Tomography (CT). iCAD recently acquired Xoft, Inc., developer of the Axxent^® eBxa" electronic brachytherapy system (eBx). Axxent uses non-radioactive miniaturized X-ray tube technology and is FDA-cleared for treatment of early stage breast cancer, skin cancer and endometrial cancer. The Axxent System is also cleared for use in the treatment of other cancers or conditions where radiation therapy is indicated including Intraoperative Radiation Therapy (IORT). 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 aforward-looking statementsa 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 Companya™s ability to defend itself in litigation matters, the Companya™s ability to identify a replacement for the Axxent FlexiShield Mini, the risks relating to the Companya™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 iCADa™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 Companya™s filings with the Securities and Exchange Commission. The words abelievea, ademonstratea, aintenda, aexpecta, aestimatea, aanticipatea, alikelya, 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 SECa™s website at [ http://www.sec.gov ].