News | January 04, 2012

iCAD Completes $15 Million in Financing

January 4, 2012 – iCAD Inc. announced a five-year, $15 million agreement to raise capital for its rollout of a new intra-operative radiation therapy (IORT) technology for early stage cancer treatment. 

Under the debt facility agreement with Deerfield Management Company LP, a healthcare investment fund, the company will issue a $15 million principal amount senior secured 5.75 percent note, will enter into a revenue purchase agreement, and will issue warrants to purchase 2.25 million shares of iCAD common stock, plus an additional 500,000 shares of common stock if the agreement is extended.

“This financing immediately strengthens iCAD’s cash position and enables the company to focus on achieving its long-term objectives for growth and expansion,” said Ken Ferry, president and CEO of iCAD.

“We see significant opportunity in iCAD based on its broad portfolio of innovative products addressing early stage cancer…iCAD’s strong customer base, along with the company’s potential to establish a leadership position in new developing markets, makes iCAD an attractive investment for our firm,” said Howard P. Furst, M.D., partner, Deerfield Management.

For more information: www.icadmed.com

Related Content

Mevion Receives 510(k) Clearance for Hyperscan Pencil Beam Scanning Proton Therapy
Technology | Proton Therapy | January 04, 2018
Mevion Medical Systems has received U.S. Food and Drug Administration (FDA) 510(k) clearance for the Mevion S250i...
Study Compares Radiosurgery and Whole-Brain Radiation in Lung Cancer Patients With Multiple Brain Metastases
News | Radiation Therapy | January 03, 2018
Although targeted therapies have produced dramatic advances in the ability to control some types of advanced lung...
MEDraysintell Downgrades Proton Therapy Market Projection for 2030
News | Proton Therapy | January 02, 2018
MEDraysintell recently downgraded its projection for proton therapy rooms expected to be operational in 2030 from 1,200...
California US Oncology Network Centers Adopt Xoft Electronic Brachytherapy System for Early-Stage Non-Melanoma Skin Cancer
News | Brachytherapy Systems | January 02, 2018
iCAD Inc. announced that its Xoft Axxent Electronic Brachytherapy (eBx) System is now available at two California-based...
Blue Phantom System Used for Acceptance of First European Varian Halcyon Machine
News | Radiation Therapy | January 02, 2018
IBA (Ion Beam Applications S.A.) announced in November the acceptance and beam model validation of the first Varian...
Study Finds Link Between Breast Cancer Treatments and Cellular Aging Markers
News | Women's Health | January 02, 2018
January 2, 2018 — A new study found women who had received chemotherapy and/or...
ACR Appropriateness Criteria Adds and Revises Topics for December 2017
News | Clinical Decision Support | December 29, 2017
December 29, 2017 — Radiologists can enhance the quality and effectiveness of care with the newest release of the ACR
FDA Clears GammaPod Stereotactic Radiotherapy System for Breast Cancer Treatment
Technology | Stereotactic Body Radiation Therapy (SBRT) | December 22, 2017
The U.S. Food and Drug Administration (FDA) has cleared the new GammaPod noninvasive stereotactic radiotherapy system...
RaySearch Launches RayCare Oncology Information System

Image courtesy of RaySearch Laboratories

Technology | Oncology Information Management Systems (OIMS) | December 22, 2017
RaySearch announced the first release of RayCare, a new oncology information system (OIS) designed to connect the...
RaySearch Releases RayStation 7 Radiotherapy Treatment Planning System
Technology | Treatment Planning | December 19, 2017
RayStation 7, the latest release of RaySearch’s radiation therapy treatment planning system, adds new functionality and...
Overlay Init