Health Canada Grants Device License for iCAD's ProFound Risk 2.0, Revolutionizing Breast Cancer Risk Via a 1-2 Year Assessment

NASHUA, N.H., Aug. 16, 2023 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced Health Canada has issued a device license for ProFound Risk version 2.0, the latest version of iCAD's personalized 1-2 year breast cancer risk assessment solution.

"We are delighted to receive the device license from Health Canada for the latest version of ProFound Risk, marking a major milestone in our mission to help women worldwide know where and when breast cancer may be hiding," said Dana Brown, President and CEO of iCAD, Inc. "This regulatory approval further validates the clinical efficacy of our technology, paving the way for its use in healthcare facilities across Canada, where breast cancer accounts for approximately 25% of new cases of cancer and 13% of all cancer deaths in Canadian women.ⁱ Our technology offers the potential to address this significant unmet burden by empowering clinicians to personalize care for patients at higher risk of developing breast cancer in the next 1-2 years, and ultimately improve outcomes for women."

Available for both 2D and 3D mammography, ProFound Risk harnesses the power of artificial intelligence (AI) to provide personalized, accurate, and efficient risk estimations for each woman within the upcoming 1-2 years, despite having a current mammogram with no current evidence of breast cancer. By uniquely combining a range of risk factors, including age, breast density, and subtle mammographic features, this first-in-kind technology empowers clinicians to tailor screening and intervention strategies based on individual patient risk profiles, offering a more personalized and holistic approach to breast cancer detection and risk assessment.

A growing body of clinical evidence has demonstrated ProFound Risk's unique ability to more accurately predict short-term cancer risk compared to commonly used risk models, including Gail and Tyrer-Cuzick. According to a recent study published in Science Translational Medicine, ProFound Risk for 3D mammography is up to 2.4 times more accurate than traditional risk models for short-term risk assessments.^ii,iii Another study published in the Journal of Clinical Oncology demonstrated ProFound Risk for 2D Mammography is more accurate than Tyrer-Cuzick v8, a commonly used lifestyle risk model, for both short-term and long-term risk assessments.^iv