iCAD,
Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image
analysis, workflow solutions and radiation therapy for the early
identification and treatment of cancer, today announced a strategic
partnership with Advanced Rad Solutions (ARS) to place iCAD’s Xoft®
Axxent® Electronic Brachytherapy Systems® at ARS
sites to treat patients diagnosed with non-melanoma skin cancer (NMSC).
ARS is a full-service integrator of radiation therapies into treatment
centers and physician practices.
As part of the strategic partnership, the XoftSystem will be
used at each of ARS’ affiliated dermatology sites, beginning with its
California sites, allowing patients to undergo electronic brachytherapy
treatment in the convenience of a dermatologist’s office.
“We are pleased to provide patients with the most advanced treatment
options for skin cancer in one integrated setting,” said Ken Ferry,
iCAD’s CEO. “Our strategic partnership with ARS will enable us to treat
more patients while expanding the number of systems we have in place,
ultimately improving patient outcomes.”
“Electronic brachytherapy is an advanced, non-invasive procedure that
can now be completed at the dermatologist’s office or in virtually any
clinical setting under the supervision of a radiation oncologist,” said
Stephen Doggett, M.D., Radiation Oncologist. “The on-site, real time
collaboration of the dermatologist and radiation oncologist both at the
time of treatment planning and in the treatment suite means improved
outcomes and optimal management of skin reactions. Patients are very
pleased with this multidisciplinary approach. By allowing providers and
patients expanded access to this proven treatment in their
dermatologist’s office where they received the diagnosis, there is a
higher probability that patients will continue with their course of
treatment and ongoing care.”
“We believe this strategic partnership will change the way skin cancer
patients are treated by bringing the portable electronic brachytherapy
technology to the dermatologist’s office through collaboration with
radiation oncology,” said Steven Carrales, ARS President and CEO. “We
now can offer patients a non-invasive alternative with compelling
clinical outcomes. Additionally, by treating skin cancer patients
in-house, we will reduce and potentially eliminate the need for patients
to see multiple physicians at various locations, while ensuring that
patients complete a full course of radiation.”
ARS has affiliated dermatology customers in California, Arizona and
Washington, and has plans to expand to other states in the fourth
quarter of 2013. Since June 2012, ARS customers have collectively
treated more than 700 patients with the Xoft System.
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 Advanced Rad Solutions
ARS is a full service
integrator of radiation oncology services into physician practices. ARS
provides dermatologists with a comprehensive solution enabling them to
offer non-invasive, electronic brachytherapy skin cancer procedures
within their current physical offices. ARS’s full service approach
results in the seamless procurement and coordination of all necessary
equipment, dermatologists, radiation oncology medical professionals and
technicians and physicists in the setting of the dermatologist’s office.
ARS has developed several locations with affiliated dermatology
customers across several states in the western U.S.
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,
endometrial cancer, cervical cancer and 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. Xoft is a wholly owned subsidiary of iCAD, Inc. For
more information about Xoft visit www.xoftinc.com.
About iCAD, Inc.
iCAD is a leading provider of 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, cervical cancer and endometrial cancer. 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 Company’s ability to identify a replacement for the Axxent
FlexiShield Mini, 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.
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