Parascript Awarded $244,479.25 Affordable Care Act Grant From the U.S. Government

LONGMONT, Colo., Nov. 8, 2010 /PRNewswire/ — Parascript, LLC,
the image analysis and pattern recognition technology provider,
today announced that it was awarded a cash grant of $244,479.25
under the U.S. Government’s Affordable Care Act. Under this act,
the therapeutic discovery project program targets projects that
show significant potential to produce new therapies, address unmet
medical needs, reduce the long-term growth of health care costs or
advance the goal of curing cancer within the next 30 years. The
allocation of the credit also reflects which projects show the
greatest potential to create and sustain high-quality, high-paying
jobs in the United States and to advance the competitiveness in the
fields of life, biological, and medical sciences.

“We are very thankful to be recognized by the U.S. government
with this grant for our Computer Aided Detection (CAD) software,”
said Alexander Filatov, president of Parascript. “This grant will
help support our ongoing research to help radiologists detect
cancers earlier and improve women’s health.”

Parascript AccuDetect is unique in that it achieves high
sensitivity and low false positive rates through the integration of
several complementary algorithms and a sophisticated voting scheme
within a single CAD system.  AccuDetect is intended to
assist radiologists in the early detection of breast cancer during
mammography screening exams.

About Parascript, LLC

The Parascript image analysis suite extracts meaningful
information from images. Employing patented digital image analysis
and pattern recognition technologies, the Parascript image analysis
suite improves decision quality in medical imaging, postal and
payment automation, fraud detection and forms processing
operations. Parascript software processes over 100 billion imaged
documents per year. Fortune 500 companies, postal operators, major
government and financial institutions rely on Parascript
products.

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