Press ReleasesiCAD Provides Lung Cancer Detection, Analysis and Tracking Software for TeraRecon Aquarius 3D Visualization and Imaging Product San Mateo, CA--July 12, 2004: - iCAD Inc. (NASDAQ: ICAD) which designs, develops and markets computer aided detection imaging technology and systems for the early detection of cancer and TeraRecon, Inc., a leader in advanced image processing and 3D visualization technologies today announced the companies have entered into a non-exclusive product licensing and distribution agreement. Under the terms of the agreement, TeraRecon will develop a new server-based product offering to include iCAD lung cancer detection, analysis and tracking software in various configurations. The server will be a standalone product to work in concert with existing PACS and DICOM review equipment and other products in the TeraRecon Aquarius product line. TeraRecon's Aquarius workstation provides advanced 3D and image processing capability for radiology while the AquariusNET server provide a central 3D processing resource accessed through thin-client software installed on regular PCs throughout the healthcare enterprise. TeraRecon has licensed three software modules from iCAD, including:
The three-year agreement provides for worldwide distribution through TeraRecon's direct sales force, independent resellers/distributors and OEM partnerships. The newly developed server and associated advanced review licenses will be offered to new TeraRecon customers as well as TeraRecon's installed base of in excess of 500 systems. The companies will collaborate to obtain FDA approvals necessary for distribution in the United States. Product release is anticipated in 2005. "iCAD's strengths in pattern recognition and CAD software development along with its regulatory expertise in this market make it a perfect partner to compliment TeraRecon's industry-leading advanced processing technology and distribution capability" said Robert Taylor, Ph.D., executive vice president and chief operating officer of TeraRecon. "The addition of automated detection and analysis software powered by iCAD technology will empower our current and future customers with a complete package to assist in early detection and subsequent tracking of lung cancer." "We are privileged to work with TeraRecon, a true leader and innovator in advanced visualization technology, in expansion of iCAD's software into new market segments and disease categories" said Scott Parr, President and CEO of iCAD. "Lung cancer is a serious health problem on a global basis, but with our combined technologies we will provide physicians a new tool to identify and treat patients at an early stage." About Lung Cancer and Computed TomographyThe American Cancer Society estimates approximately 173,000 new lung cancer cases in 2004. Over 30% of all cancer deaths will be due to lung cancer and some 170,000 lives will be lost in 2004. Because of its prevalence and the significant burden of lung cancer on the health care system, the prevention, early detection and treatment of lung cancer are top national health priorities. Increasingly, lung cancers are detected and assessed using Computed Tomography, or CT. Computed Tomography is a widely used general imaging modality utilized for a broad spectrum of applications and a variety of indications. CT exams typically consist of a large number of cross sectional views (or slices) that together provide a volumetric representation of the region being imaged. CT equipment is used to image various parts of the entire body but the majority of CT images are obtained of the head, chest, abdomen, pelvis, or a combination of these regions. There are some 30,000 CT systems in clinical use around the world today, with 57 million CT examinations performed annually. The number of patients undergoing CT studies is growing at some 15% per year. Regardless of the reason for obtaining a CT exam, the exam will be evaluated for the presence of nodules or masses that may indicate the presence of cancer. The volume of images and data presented to the physician can be overwhelming, making identification of specific cancers difficult. Although CT is fundamentally a digital technology, earlier CT exams were read on film or using rudimentary review workstations and mini-PACS systems. The introduction of multi-slice CT equipment coupled with advances in review workstation software and hardware are driving a mass migration towards softcopy review using sophisticated 3D visualization software. Cancerous or potentially cancerous lung nodules identified using CT are often monitored through with several CT exams over a period of time. With every subsequent examination, the radiologist must find and assess the nodule or nodules in part by measuring changes in size over time. The radiologist may also assess changes in a nodule imaged with and without the use of a radiographic contrast agent. About iCAD, Inc.iCAD develops, engineers, manufactures and markets computer aided detection (CAD) products for the early detection of breast cancer and other health-care related applications. Early detection of breast cancer can save lives and often permits less costly, less invasive and less disfiguring cancer treatment options than when the cancer is detected at a later stage. Computer-aided detection from iCAD can detect 23% of breast cancers, an average of 15 months earlier than screening mammography alone. iCAD is the only independent, integrated digitizer hardware and CAD software company offering computer aided detection solutions. As such, iCAD is able to reduce costs at each step in the CAD product design, production and assembly process. The Company believes its vertical integration of CAD and hardware development results in better integration of software and film digitizer components, lower production costs and reduced administrative overhead. These achievements have allowed iCAD to progressively enhance its CAD product line, while reducing the costs of CAD to many customers and allowing more women to realize the benefits inherent in the early detection of breast cancer. The Company is headquartered in Nashua, New Hampshire and its common stock is listed on The Nasdaq Stock Market under the symbol "ICAD". More information on iCAD's products can be found at www.icadmed.com. About TeraRecon, Inc. Contact:
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