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 that UltraMed
Technology Corporation, the Company’s partner in Taiwan, has purchased a
third Xoft® Axxent® Electronic Brachytherapy System®.
With this agreement, Intraoperative Radiation Therapy (IORT) with the
Xoft System is now available in nine Taiwanese hospitals, helping meet
the growing demand for IORT in the country.
“Xoft began our relationship with UltraMed Technology Corporation three
years ago, with the goal of expanding our IORT global footprint,” said
Ken Ferry, President and CEO of iCAD, Inc. “Since that time, the
partnership has grown and we hope to build on the momentum we have
established with the UltraMed team to increase patient access to our
IORT solution in Taiwan and in other Asian markets.”
IORT is delivered at the time of a breast cancer surgery in just one
dose. After the breast surgeon performs a lumpectomy, or removal of the
early-stage breast cancer tumor, radiation is targeted directly into the
tumor cavity, to kill any remaining cancer cells. Because the radiation
is administered in such a targeted manner, it minimizes the radiation to
surrounding healthy tissue and organs. IORT eliminates the logistically
impractical five-to-seven week daily regimen of traditional whole breast
radiation therapy. In most cases, patients are able to go home the same
day and do not have to return for follow up treatments.
The Xoft System is a mobile and flexible therapy option that can
dramatically reduce treatment times compared to whole breast radiation
therapy for the treatment of early-stage breast cancer. When used for
IORT, the Xoft System delivers a single, prescribed, targeted dose of
isotope-free radiation eliminating the need for a shielded treatment
environment.
“The incidence of breast cancer in Taiwan is amongst the highest in all
of Asia and is the most prevalent form of cancer in Taiwanese women,”
said Tony Kuo, CEO of UltraMed Technology Corporation. “Being able to
provide customers cutting-edge technology including the Xoft System
helps them offer more treatment options to their patients.”
To learn more about the Xoft System visit UltraMed Technology
Corporation’s booth at Changhua Christian Hospital’s International
Breast Cancer Conference July 7, 2014 at Changhua Christian Hospital in
Changhua City, Taiwan.
About Xoft Axxent Electronic Brachytherapy System
The Xoft Axxent 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,
like us on Facebook
or follow us on Twitter at @xofticad.
About UltraMed Technology Corporation
UltraMed Technology Corporation’s management team has more than 160
years experience in the medical industry, and keeps very good
relationships with key opinion leaders in these fields, especially in
the treatment of cancer. The Xoft Axxent System has been approved by
Taiwan FDA for use anywhere in the body, including early-stage breast
cancer, gynecological cancers and non-melanoma skin cancer. Currently
the Xoft Axxent System is the leading product for the treatment of
early-stage breast cancer with IORT in Taiwan and has entered into a
growth stage. Tony Kuo has joined the company as Chief Executive Officer
and has over 40 years of experience in the medical and pharmaceutical
industry, including sales and marketing experience in oncology. For more
information, please visit www.ultramed-tech.com.tw.
About iCAD, Inc.
iCAD is an industry-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® Axxent® Electronic
Brachytherapy (eBx®) 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.
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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
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the Company’s ability to defend itself in litigation matters, to achieve
business and strategic objectives, the risks of uncertainty of patent
protection, the impact of supply and manufacturing constraints or
difficulties, uncertainty of future sales levels, protection of patents
and other proprietary rights, the impact of supply and manufacturing
constraints or difficulties, product market acceptance, possible
technological obsolescence of products, increased competition,
litigation and/or 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
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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
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of our website at http://www.icadmed.com
and on the SEC’s website at http://www.sec.gov.
Copyright Business Wire 2014