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iCAD Announces Study Demonstrating Economic and Health Benefits of Intraoperative Radiation Therapy (IORT) for Early-Stage Breast Cancer Treatment

Lifetime cost-effectiveness analysis reveals $630 million annual cost savings, less radiation exposure and better quality of life for patients compared to external beam radiation therapy

NASHUA, N.H., Dec. 07, 2017 (GLOBE NEWSWIRE) — iCAD, Inc. (NASDAQ:ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced the results of a landmark study that showed the benefits of adjunct intraoperative radiation therapy (IORT) compared to external beam radiation therapy (EBRT) in the treatment of early-stage breast cancer. The analysis demonstrated that IORT could result in direct cost savings for the U.S. healthcare system of more than $630 million over the lifetime of patients diagnosed annually with early-stage breast cancer, as well as significantly benefit patient health by minimizing radiation exposure and offering a better quality of life. The results of the study, which were originally published in the peer-reviewed Cost Effectiveness and Resource Allocation, determined IORT to be the preferred method of treatment.

“IORT offers a tremendous value to women diagnosed with early-stage breast cancer by providing an important treatment option with significant advantages, including reduced risk of side effects related to radiation exposure when compared to EBRT,” said Ken Ferry, CEO of iCAD. “Moreover, there are meaningful cost benefits of IORT, which is estimated in this study to save more than $10,500 annually over the lifetime of each patient, reducing the direct expenses related to their care, and offering millions of dollars in savings to the U.S. healthcare system each year.”

This study is the first of its kind to evaluate the quality of life and direct costs of care related to treating early-stage breast cancer with IORT versus EBRT over the life of the patient. It was co-authored by Olga Ivanov, MD, a surgeon at Florida Hospital in Orlando, Fla., and Rakesh Patel, MD, a radiation oncologist at Good Samaritan Hospital in Los Gatos, Calif., both of whom use iCAD’s Xoft® Axxent® Electronic Brachytherapy (eBx®) System® in their practices. The authors leveraged a Markov decision tree model using data obtained from peer-reviewed literature to compare the use of IORT versus six-week, whole breast radiation therapy in treating early-stage breast cancer. Among the key findings:

  • Direct costs of care over the life of a patient were $53,179 for IORT and $63,828 for EBRT, which shows an annual cost savings of more than $10,500 per patient through the use of IORT.
     
  • With more than 60,000 new cases of early-stage breast cancer diagnosed per year, annual cost savings associated with IORT could total more than $630 million.
  • Quality of life was measured in QALYs, the sum of yearly quality of life assessments over the life of a patient. Study results indicated that QALYs for IORT were higher (17.86) than for EBRT (17.06), demonstrating an overall higher quality of life with IORT treatment.
  • The analysis also examined the future impact of radiation exposure over the patient’s life. EBRT exposes patients to four times more radiation than IORT, resulting in a significant risk of major coronary events and lung cancer. This increased radiation exposure translates into a more than 15 times relative risk of longer-term complications with EBRT compared to IORT.

IORT is used to deliver a full course of targeted radiation inside the body, directly within the tumor cavity, targeting cancer cells and reducing the risk of damage to nearby healthy tissue, including in the heart, lungs and ribs. In contrast, traditional EBRT requires delivering radiation to the whole breast, causing surrounding tissues and critical structures to be exposed to radiation. EBRT typically involves daily radiation treatments over the course of several weeks, while IORT treatment with the Xoft System can be completed in a single treatment lasting as little as eight minutes. To date, more than 3,000 patients worldwide have been treated with IORT using the Xoft System.

“IORT fosters critical collaboration between surgeons and radiation oncologists, which enables us to deliver the full course of treatment in just one day to select women diagnosed with early-stage breast cancer,” said Dr. Ivanov. “Patients experience a number of unique benefits, including shorter treatment times, fewer side effects, the ability to return to their normal daily lives within days and overall better health outcomes.”

“In the new value-based healthcare landscape, it is important for clinicians to evaluate therapy options that deliver optimal outcomes for their patients while ensuring that healthcare dollars are invested most efficiently,” said Dr. Patel. “The results of this study show that IORT allows a balance between these two critical factors for selected patients; it can potentially drive down the cost of breast cancer treatment while maintaining the patient’s overall outcome and quality of life.”

ABOUT iCAD, INC.
Headquartered in Nashua, NH, iCAD is a global medical technology leader providing innovative cancer detection and therapy solutions. For more information, visit www.icadmed.com.

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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, 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, 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”, “would”, “could”, “consider”, “project”, “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, including the 10-K for the year ended December 31, 2016, 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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