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Transformational Acquisition Secured to Provide Targeted Analysis, Therapy and Monitoring throughout the Cancer Care Cycle

iCAD , Inc. (NASDAQ:ICAD), an industry-leading provider of advanced image analysis and workflow solutions for the early identification of cancer, has completed the previously announced acquisition of Xoft , Inc., developer of the Axxent® eBx™ electronic brachytherapy system. The portable Axxent System, which delivers electronically-controlled radiation therapy directly to cancer sites with minimal radiation exposure to surrounding healthy tissue, is FDA-cleared for the treatment of early stage breast cancer, endometrial cancer and skin cancer, and for the treatment of other cancers or conditions where radiation therapy is indicated. Xof t’s Axxent technology is approved for accelerated partial breast irradiation (APBI), which can be delivered twice daily for five days or it can be administered immediately following the lumpectomy procedure in only a few minutes with one course of therapy, also known as Intraoperative Radiation Therapy (IORT).

“Our new combined company is well positioned for long-term growth and to accelerate the adoption of new standards of care in oncology,” said Ken Ferry, President and CEO of iCAD. “By combining our innovative solutions, iCAD and Xoft can empower clinicians to improve patient outcomes through collaborative delivery of more targeted cancer detection, diagnosis, treatment and monitoring.”

In the third quarter of 2010, the American Society for Radiation Oncology ( ASTRO ) applied for a Category 1 CPT procedure code for single fraction (one dose) Intraoperative Radiation Therapy (IORT). Numerous clinical studies, including the landmark TARGIT-A trial published in The Lancet in June 2010, have supported this treatment option. A reimbursement decision is expected in the mid to late 2011 timeframe and changes to the current reimbursement would further expand the market for radiation therapy administered immediately following a lumpectomy procedure. Xoft ’s technology may help more women who are candidates for breast conservation therapy (BCT) adhere to radiation therapy guidelines. Compliance rates vary widely between different populations based on proximity to care, length of treatment, and other factors.

“ Xoft ’s technology expands patient access to potentially life-saving treatments globally and provides a compelling treatment alternative to traditional external beam radiation, which is administered five days per week over a six to seven week timeframe,” said Michael Klein, former President and CEO of Xoft . “We are excited to join with iCAD on our mission to increase access to targeted radiation therapy, improve patient outcomes and better the experience for patients during their cancer treatments.”

Source: iCAD , Inc.