Israeli firm TopSpin Medical raises $16.5 million:
This article was originally published in Clinica
Executive Summary
Lod, Israel-based TopSpin Medical has raised $16.5m. The second-round financing led by Pitango Venture Capital and Giza Venture Capital will allow the company to begin clinical trials, apply for marketing approval in Europe and the US and, it hopes, launch products next year. TopSpin has developed technology that enables MRIs to be conducted without using external magnets, reducing bulkiness and cost and broadening the range of potential applications. The first application is high-resolution imaging of coronary artery walls, which for the first time allows vulnerable plaques to be detected. Other investors in the company, which was founded in 1999, include Johnson & Johnson and Israel Seed Partners.