Icad Rises on Google Health Development Deal

By Will Feuer

Shares of Icad Inc. jumped 25% after the medical-technology company said it has struck a deal with Alphabet Inc.'s Google Health to integrate Google Health's artificial intelligence technology into Icad's portfolio of breast-imaging solutions.

Under the agreement, Google has agreed to license its AI technology for breast cancer and personalized risk assessment to Icad, which will validate and integrate Google Health's mammography AI technology into its portfolio of technologies for breast cancer detection, density assessment and personalized short-term risk evaluation.

Google said the deal marks the first time it has licensed its mammography AI research model, and that the deal marks an inflection point in its breast-cancer detection work.

Icad said it has also agreed to use Google's cloud offerings to accelerate the commercialization of Icad's cloud-hosted offerings.

Icad said it also will incorporate Google Health's mammography AI technology into ProFound AI Risk, its support tool that provides a short-term breast cancer risk estimation using information readily available from a screening mammogram.

Shares of Icad rose 25% to $2.25 in premarket trading. Through Friday's close, the stock was down 75% this year.

Write to Will Feuer at [e-mail]

(END) Dow Jones Newswires

November 28, 2022 08:52 ET (13:52 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.