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Israeli med-tech company TopSpin Medical has received an $8 million term sheet from the Israeli venture capital funds Pitango and Giza.

Pitango will be leading its financing round, TheMarker has learned.

Israel Seed Partners is also considering investment in the startup.

No comment could be obtained from TopSpin.

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The company, located in Lod, is developing real-time magnetic resonance imaging technology via catheter, to locate damage to blood vessels.