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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">As filed with the Securities and Exchange Commission on October&nbsp;15, 2007</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>TOPSPIN MEDICAL, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>510394637</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification Number)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">of Incorporation or Operation)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Global Park<BR>
2 Yodfat Street, Third Floor<BR>
North Industrial Area<BR>
Lod 71291<BR>
Israel<BR>
972-8-9200033</B><BR>
(Address of Principal Executive Offices, including Zip Code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><B>TopSpin Medical, Inc. 2001 Israeli Stock Option Plan<BR>
TopSpin Medical, Inc. 2003 Israeli Stock Option Plan</B><BR>
(Full Title of the Plans)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 1pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><B>Corporation Service Company<BR>
2711 Centerville Road, Suite&nbsp;400<BR>
Wilmington, DE 19808<BR>
1-800-927-9800</B><BR>
(Name, Address And Telephone Number, Including Area Code, of Agent For Service)</DIV>
<DIV align="center"><DIV style="font-size: 1pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">
<B><I>Copies of communications to:</I></B><BR>
<B>Benjamin Strauss, Esq.<BR>
Pepper Hamilton LLP<BR>
Hercules Plaza, Suite&nbsp;5100<BR>
1313 Market Street<BR>
P.O. Box 1709<BR>
Wilmington, DE 19899<BR>
(302)&nbsp;777-6500</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 33%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of Shares to be Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registered (1)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price Per Share</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate Offering Price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registration Fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value $0.001
per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">300,000</TD>
    <TD nowrap style="border-top: 2px solid #000000">(2)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">0.18</TD>
    <TD nowrap style="border-top: 2px solid #000000">(3)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">54,000.00</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">1.66</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value $0.001
per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">32,163,448</TD>
    <TD nowrap style="border-top: 2px solid #000000">(4)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">0.18</TD>
    <TD nowrap style="border-top: 2px solid #000000">(3)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">5,789,421.00</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">177.74</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value $0.001
per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">4,836,552</TD>
    <TD nowrap style="border-top: 2px solid #000000">(5)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">0.18</TD>
    <TD nowrap style="border-top: 2px solid #000000">(3)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">870,579.00</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">26.73</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:30px; text-indent:-15px">Total</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">37,300,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">206.13</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;416(b), there shall also be deemed covered hereby such additional shares as
may result from anti-dilution adjustments which may hereinafter be offered or issued to prevent
dilution resulting from stock splits, stock dividends, recapitalizations or certain other capital
adjustments.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Consists of shares of Common Stock issuable under the 2001 Israeli Stock Option Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purposes of calculating the registration fee in accordance with Rule
457(h)(1) and (c)&nbsp;under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). The price
and fee are computed based upon 0.729 New Israel Shekels (NIS), the average of the high and low
prices for the Common Stock reported on the Tel Aviv Stock Exchange on October&nbsp;11, 2007. For
purposes of calculating the registration fee in U.S. Dollars, the NIS/Dollar exchange rate of 4.041
NIS for $1.00 has been used so that 0.729 NIS equals $0.18. This exchange rate is current as of
October&nbsp;11, 2007.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Consists of shares of Common Stock issuable under the 2003 Israeli Stock Option Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Consists of shares that have been issued and are outstanding pursuant to the exercise of
options to purchase Common Stock that were granted under the 2003 Israeli Stock Option Plan.</TD>
</TR>

</TABLE>



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</DIV>

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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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</TR>
<TR><TD colspan="9"><A HREF="#000"> PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">Item&nbsp;1. Plan Information</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">Item&nbsp;2. Registrant Information and Employee Plan Annual Information</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003"> PART II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">Item&nbsp;7. Exemption From Registration Claimed</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="w40833exv5w1.htm">Opinion of Pepper Hamilton LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="w40833exv23w1.htm">Consent of Kost Forer Gabbay & Kasierer</A></TD></TR>
<TR><TD colspan="9"><A HREF="w40833exv24w1.htm">Powers of Attorney</A></TD></TR>
</TABLE>
</CENTER>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 " PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>

</DIV>
<!-- link1 "Item&nbsp;1. Plan Information" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1. Plan Information.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The document(s) containing the information specified in Part&nbsp;I of this Form S-8 Registration
Statement (the &#147;Registration Statement&#148;) will be sent or given to participants in the 2001 Israeli
Stock Option Plan and the 2003 Israeli Stock Option Plan as specified by Rule&nbsp;428(b)(1) of the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;). Such documents are not being filed with
the Securities and Exchange Commission (the &#147;Commission&#148;), but constitute, along with the documents
incorporated by reference into this Registration Statement, a prospectus that meets the
requirements of Section 10(a) of the Securities Act.
</DIV>

<!-- link1 "Item&nbsp;2. Registrant Information and Employee Plan Annual Information" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TopSpin Medical, Inc. (the &#147;Registrant&#148;) will furnish without charge to each person to whom
the prospectus is delivered, upon the written or oral request of such person, a copy of any and all
of the documents incorporated by reference in Item&nbsp;3 of Part&nbsp;II of this Registration Statement.
Such documents are incorporated by reference in the Section 10(a) prospectus. The Registrant also
will furnish without charge to each person to whom the prospectus is delivered, upon the written or
oral request of such person, documents that are required to be delivered pursuant to Rule 428(b) of
the Securities Act. Requests should be directed to TopSpin Medical, Inc., Global Park, 2 Yodfat
Street, Third Floor, North Industrial Area, Lod 71291 Israel, Attention: Eyal Kolka, Chief
Financial Officer, telephone number 972-8-9200033.
</DIV>

<!-- link1 " PART II" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>

</DIV>
<!-- link1 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents which have been filed by the Registrant with the Commission are
incorporated by reference into this Registration Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Registrant&#146;s prospectus dated September&nbsp;11, 2007 filed with the Commission pursuant to
Rule 424(b) under the Securities Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;All other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), since December&nbsp;31, 2006,
including the following reports:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(i)&nbsp;the Registrant&#146;s Current Report on Form 8-K filed on August&nbsp;2, 2007;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(ii)&nbsp;the Registrant&#146;s Current Report on Form 8-K filed on August&nbsp;7, 2007;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(iii)&nbsp;the Registrant&#146;s Quarterly Report on Form 10-QSB for the quarterly period
ended June&nbsp;30, 2007 filed on August&nbsp;15, 2007;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(iv)&nbsp;the Registrant&#146;s Current Report on Form 8-K filed on September&nbsp;20, 2007;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(v)&nbsp;the Registrant&#146;s Current Report on Form 8-K filed on October&nbsp;1, 2007; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(vi)&nbsp;the Registrant&#146;s Current Report on Form 8-K filed on October&nbsp;9, 2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date hereof and prior to the filing of a post-effective amendment which
indicates that all securities offered pursuant to this Registration Statement have been sold or
which deregisters all securities then remaining unsold shall be
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-1-<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">deemed to be incorporated by reference herein and to be a part hereof from the respective
dates of filing of such documents.
</DIV>

<!-- link1 "Item&nbsp;4. Description of Securities" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Common Stock </B></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our authorized capital stock consists of 500,000,000 shares of Common Stock, par value $0.001
per share. As of the date hereof, there were 186,141,173 shares of Common Stock outstanding and
held of record by 48 stockholders. These shares include Common Stock issued prior to and as a part
of our 2005 initial public offering in Israel, Common Stock issued as part of an ongoing primary
offering which began on June&nbsp;6, 2007, Common Stock issued from the conversion of our
previously-issued preferred stock in 2005 and Common Stock issued from the exercise of options and
warrants. All shares are listed on the Tel Aviv Stock Exchange (&#147;TASE&#148;) under the symbol &#147;TOPMD.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of Common Stock are entitled to one vote for each share held of record on all
matters submitted to a vote of the stockholders. Our stockholders do not have cumulative voting
rights in the election of directors. Accordingly, holders of a majority of the voting shares are
able to elect all of the directors. The remaining directors may fill a vacancy on the Board of
Directors, if the vacancy occurred by reason of death, resignation or the creation of a new
directorship. At least two directors must at all times have been elected by our stockholders
according to such situations where either (1)&nbsp;the majority of the votes at the stockholder meeting
includes at least one third of all of the votes by stockholders who are not controlling
stockholders or their representatives, not counting abstentions or (2)&nbsp;the total number of opposing
votes by the non-controlling stockholders does not exceed 1% of all the voting rights.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends may be declared by our Board of Directors at any regular or special meeting and may
be paid in cash or property or in shares of capital stock. The directors may set apart a reserve
available for dividends for any proper purpose. We have not distributed a dividend since the time
of our incorporation and we have not established a policy of dividend distribution. On August&nbsp;25,
2005, we undertook not to distribute any dividend or other payment to the stockholders pending the
deposition of our securities in the Depository Trust Company or another arrangement approved by the
TASE. Our Board of Directors made this undertaking at the request of the TASE because the TASE does
not currently have any procedures in place regarding U.S. companies distributing dividend payments.
We agreed not to distribute dividends until the time that the TASE created such procedures. Thus,
there is no present intent to distribute dividends but we may consider such a distribution in the
future.
</DIV>

<!-- link1 "Item&nbsp;5. Interests of Named Experts and Counsel" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<!-- link1 "Item&nbsp;6. Indemnification of Directors and Officers" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant is a Delaware corporation. Article&nbsp;XII of our Certificate of Incorporation
provides to the fullest extent permitted under the Delaware General Corporation Law (&#147;DGCL&#148;), that
our directors or officers will not be personally liable to us or our stockholders for damages for
breach of such director&#146;s or officer&#146;s fiduciary duty. Section&nbsp;145 of the DGCL provides that a
corporation may indemnify directors, officers, employees and agents against expenses (including
attorneys&#146; fees), judgments, fines, and amounts paid in settlement in connection with specified
actions, suits, or proceedings whether civil, criminal, administrative or investigative (other than
an action by or in the right of the corporation &#150; a &#147;derivative action&#148;), if they acted in good
faith and in a manner they reasonably believed to be in or not opposed to the best interests of the
corporation and, with respect to any criminal action or proceeding, had no reasonable cause to
believe their conduct was unlawful. A similar standard is applicable in the case of derivative
actions, except that indemnification is permitted only for expenses (including attorneys&#146; fees)
incurred in connection with the defense or settlement of such action, and the statute requires
court approval before there can be any indemnification for expenses where the person seeking
indemnification has been found liable to the corporation. The statute provides that it is not
exclusive of other indemnification that may be granted by a corporation&#146;s charter, bylaws,
disinterested director vote, stockholder vote, agreement or otherwise.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-2-<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;23 of our Bylaws provides that we shall indemnify and hold harmless, to the fullest
extent permitted by applicable law as it presently exists or may hereafter be amended, any person
(an &#147;Indemnitee&#148;) who was or is made or is threatened to be made a party or is otherwise involved
in any action, suit or proceeding, whether civil, criminal, administrative or investigative (a
&#147;proceeding&#148;), by reason of the fact that he, or a person for whom he is the legal representative,
is or was a director or officer of ours, or is or was serving at our written request as a director,
officer, employee or agent of another corporation or of a partnership, joint venture, trust,
enterprise or nonprofit entity, including service with respect to employee benefit plans, against
all liability and loss suffered and expenses (including attorneys&#146; fees as incurred) reasonably
incurred by him.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers or persons controlling us pursuant to the foregoing provisions, or
otherwise, we have been advised that in the opinion of the Commission, such indemnification is
against public policy as expressed in the Securities Act and is, therefore, unenforceable.
</DIV>

<!-- link1 "Item&nbsp;7. Exemption From Registration Claimed" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption From Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<!-- link1 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>TopSpin Medical, Inc. 2001 Israeli Stock Option Plan (incorporated herein by
reference to Exhibit&nbsp;10.1 to the Registrant&#146;s Registration Statement on Form SB-2 (File
No.&nbsp;333-142242) filed on April&nbsp;20, 2007).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>TopSpin Medical, Inc. 2003 Israeli Stock Option Plan (incorporated herein by
reference to Exhibit&nbsp;10.2 to the Registrant&#146;s Registration Statement on Form SB-2 (File
No.&nbsp;333-142242) filed on April&nbsp;20, 2007).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Opinion of Pepper Hamilton LLP as to the validity of the securities being registered.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">23.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consent of Kost Forer Gabbay &#038; Kasierer.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">23.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consent of Pepper Hamilton LLP (contained in Exhibit&nbsp;5.1).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">24.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Powers of Attorney.</TD>
</TR>

</TABLE>
</DIV>
<!-- link1 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;9. Undertakings</B>.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned small business issuer hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">(1)&nbsp;To file, during any period in which it offers or sales securities, a
post-effective amendment to this Registration Statement to include any additional or
changed material information on the plan of distribution;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">(2)&nbsp;That, for the purpose of determining any liability under the Securities Act, to
treat each post-effective amendment as a new registration statement of the
securities offered herein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">(3)&nbsp;To remove from registration by means of a post-effective amendment any of the
securities being registered that remain unsold at the termination of the offering.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->-3-<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in Lod, Israel on October&nbsp;15, 2007.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">TOPSPIN MEDICAL, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Yaron Tal
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Yaron Tal&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated on October&nbsp;15, 2007:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="24%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="71%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>SIGNATURE</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>TITLE</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Yaron Tal
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Yaron Tal
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chief Executive Officer and President<BR>
(principal executive officer)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Eyal Kolka
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Eyal Kolka
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chief Financial Officer and Secretary<BR>
(principal financial and accounting officer)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Michael Berman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;Chairman
of the Board of Directors</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Erez Golan
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Zvi Schechter
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Nissim Darvish
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Neil Cohen
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Gil Bianco
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">*
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Ora Setter
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="34%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top" nowrap>* By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Eyal Kolka
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Eyal Kolka, as Attorney-in-Fact&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="012"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibits</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">TopSpin Medical, Inc. 2001 Israeli Stock Option Plan (incorporated herein by
reference to Exhibit&nbsp;10.1 to the Registrant&#146;s Registration Statement on Form&nbsp;SB-2 (File
No.&nbsp;333-142242) filed on April&nbsp;20, 2007).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">TopSpin Medical, Inc. 2003 Israeli Stock Option Plan (incorporated herein by
reference to Exhibit&nbsp;10.2 to the Registrant&#146;s Registration Statement on Form&nbsp;SB-2 (File
No.&nbsp;333-142242) filed on April&nbsp;20, 2007).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Pepper Hamilton LLP as to the validity of the securities being registered.</TD>
</TR>
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    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Kost Forer Gabbay &#038; Kasierer.</TD>
</TR>
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    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Pepper Hamilton LLP (contained in Exhibit&nbsp;5.1).</TD>
</TR>
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    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney.</TD>
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sv8
Table of Contents
As filed with the Securities and Exchange Commission on October 15, 2007
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
TOPSPIN MEDICAL, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
510394637
(State or Other Jurisdiction
(I.R.S. Employer Identification Number)
of Incorporation or Operation)
Global Park
2 Yodfat Street, Third Floor
North Industrial Area
Lod 71291
Israel
972-8-9200033
(Address of Principal Executive Offices, including Zip Code)
TopSpin Medical, Inc. 2001 Israeli Stock Option Plan
TopSpin Medical, Inc. 2003 Israeli Stock Option Plan
(Full Title of the Plans)
Corporation Service Company
2711 Centerville Road, Suite 400
Wilmington, DE 19808
1-800-927-9800
(Name, Address And Telephone Number, Including Area Code, of Agent For Service)
Copies of communications to:
Benjamin Strauss, Esq.
Pepper Hamilton LLP
Hercules Plaza, Suite 5100
1313 Market Street
P.O. Box 1709
Wilmington, DE 19899
(302) 777-6500
CALCULATION OF REGISTRATION FEE
Amount to be
Proposed Maximum
Proposed Maximum
Amount of
Title of Shares to be Registered
Registered (1)
Offering Price Per Share
Aggregate Offering Price
Registration Fee
Common Stock, par value $0.001
per share
300,000
(2)
$
0.18
(3)
$
54,000.00
$
1.66
Common Stock, par value $0.001
per share
32,163,448
(4)
$
0.18
(3)
$
5,789,421.00
$
177.74
Common Stock, par value $0.001
per share
4,836,552
(5)
$
0.18
(3)
$
870,579.00
$
26.73
Total
37,300,000
$
206.13
(1)
Pursuant to Rule 416(b), there shall also be deemed covered hereby such additional shares as
may result from anti-dilution adjustments which may hereinafter be offered or issued to prevent
dilution resulting from stock splits, stock dividends, recapitalizations or certain other capital
adjustments.
(2)
Consists of shares of Common Stock issuable under the 2001 Israeli Stock Option Plan.
(3)
Estimated solely for the purposes of calculating the registration fee in accordance with Rule
457(h)(1) and (c) under the Securities Act of 1933, as amended (the "Securities Act"). The price
and fee are computed based upon 0.729 New Israel Shekels (NIS), the average of the high and low
prices for the Common Stock reported on the Tel Aviv Stock Exchange on October 11, 2007. For
purposes of calculating the registration fee in U.S. Dollars, the NIS/Dollar exchange rate of 4.041
NIS for $1.00 has been used so that 0.729 NIS equals $0.18. This exchange rate is current as of
October 11, 2007.
(4)
Consists of shares of Common Stock issuable under the 2003 Israeli Stock Option Plan.
(5)
Consists of shares that have been issued and are outstanding pursuant to the exercise of
options to purchase Common Stock that were granted under the 2003 Israeli Stock Option Plan.
TABLE OF CONTENTS
PART I
Item 1. Plan Information
Item 2. Registrant Information and Employee Plan Annual Information
PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Directors and Officers
Item 7. Exemption From Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
EXHIBIT INDEX
Opinion of Pepper Hamilton LLP
Consent of Kost Forer Gabbay & Kasierer
Powers of Attorney
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information.
The document(s) containing the information specified in Part I of this Form S-8 Registration
Statement (the "Registration Statement") will be sent or given to participants in the 2001 Israeli
Stock Option Plan and the 2003 Israeli Stock Option Plan as specified by Rule 428(b)(1) of the
Securities Act of 1933, as amended (the "Securities Act"). Such documents are not being filed with
the Securities and Exchange Commission (the "Commission"), but constitute, along with the documents
incorporated by reference into this Registration Statement, a prospectus that meets the
requirements of Section 10(a) of the Securities Act.
Item 2. Registrant Information and Employee Plan Annual Information.
TopSpin Medical, Inc. (the "Registrant") will furnish without charge to each person to whom
the prospectus is delivered, upon the written or oral request of such person, a copy of any and all
of the documents incorporated by reference in Item 3 of Part II of this Registration Statement.
Such documents are incorporated by reference in the Section 10(a) prospectus. The Registrant also
will furnish without charge to each person to whom the prospectus is delivered, upon the written or
oral request of such person, documents that are required to be delivered pursuant to Rule 428(b) of
the Securities Act. Requests should be directed to TopSpin Medical, Inc., Global Park, 2 Yodfat
Street, Third Floor, North Industrial Area, Lod 71291 Israel, Attention: Eyal Kolka, Chief
Financial Officer, telephone number 972-8-9200033.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents which have been filed by the Registrant with the Commission are
incorporated by reference into this Registration Statement:
(a) The Registrant's prospectus dated September 11, 2007 filed with the Commission pursuant to
Rule 424(b) under the Securities Act.
(b) All other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), since December 31, 2006,
including the following reports:
(i) the Registrant's Current Report on Form 8-K filed on August 2, 2007;
(ii) the Registrant's Current Report on Form 8-K filed on August 7, 2007;
(iii) the Registrant's Quarterly Report on Form 10-QSB for the quarterly period
ended June 30, 2007 filed on August 15, 2007;
(iv) the Registrant's Current Report on Form 8-K filed on September 20, 2007;
(v) the Registrant's Current Report on Form 8-K filed on October 1, 2007; and
(vi) the Registrant's Current Report on Form 8-K filed on October 9, 2007.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date hereof and prior to the filing of a post-effective amendment which
indicates that all securities offered pursuant to this Registration Statement have been sold or
which deregisters all securities then remaining unsold shall be
-1-
Table of Contents
deemed to be incorporated by reference herein and to be a part hereof from the respective
dates of filing of such documents.
Item 4. Description of Securities.
Common Stock
Our authorized capital stock consists of 500,000,000 shares of Common Stock, par value $0.001
per share. As of the date hereof, there were 186,141,173 shares of Common Stock outstanding and
held of record by 48 stockholders. These shares include Common Stock issued prior to and as a part
of our 2005 initial public offering in Israel, Common Stock issued as part of an ongoing primary
offering which began on June 6, 2007, Common Stock issued from the conversion of our
previously-issued preferred stock in 2005 and Common Stock issued from the exercise of options and
warrants. All shares are listed on the Tel Aviv Stock Exchange ("TASE") under the symbol "TOPMD."
The holders of Common Stock are entitled to one vote for each share held of record on all
matters submitted to a vote of the stockholders. Our stockholders do not have cumulative voting
rights in the election of directors. Accordingly, holders of a majority of the voting shares are
able to elect all of the directors. The remaining directors may fill a vacancy on the Board of
Directors, if the vacancy occurred by reason of death, resignation or the creation of a new
directorship. At least two directors must at all times have been elected by our stockholders
according to such situations where either (1) the majority of the votes at the stockholder meeting
includes at least one third of all of the votes by stockholders who are not controlling
stockholders or their representatives, not counting abstentions or (2) the total number of opposing
votes by the non-controlling stockholders does not exceed 1% of all the voting rights.
Dividends may be declared by our Board of Directors at any regular or special meeting and may
be paid in cash or property or in shares of capital stock. The directors may set apart a reserve
available for dividends for any proper purpose. We have not distributed a dividend since the time
of our incorporation and we have not established a policy of dividend distribution. On August 25,
2005, we undertook not to distribute any dividend or other payment to the stockholders pending the
deposition of our securities in the Depository Trust Company or another arrangement approved by the
TASE. Our Board of Directors made this undertaking at the request of the TASE because the TASE does
not currently have any procedures in place regarding U.S. companies distributing dividend payments.
We agreed not to distribute dividends until the time that the TASE created such procedures. Thus,
there is no present intent to distribute dividends but we may consider such a distribution in the
future.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
The Registrant is a Delaware corporation. Article XII of our Certificate of Incorporation
provides to the fullest extent permitted under the Delaware General Corporation Law ("DGCL"), that
our directors or officers will not be personally liable to us or our stockholders for damages for
breach of such director's or officer's fiduciary duty. Section 145 of the DGCL provides that a
corporation may indemnify directors, officers, employees and agents against expenses (including
attorneys' fees), judgments, fines, and amounts paid in settlement in connection with specified
actions, suits, or proceedings whether civil, criminal, administrative or investigative (other than
an action by or in the right of the corporation – a "derivative action"), if they acted in good
faith and in a manner they reasonably believed to be in or not opposed to the best interests of the
corporation and, with respect to any criminal action or proceeding, had no reasonable cause to
believe their conduct was unlawful. A similar standard is applicable in the case of derivative
actions, except that indemnification is permitted only for expenses (including attorneys' fees)
incurred in connection with the defense or settlement of such action, and the statute requires
court approval before there can be any indemnification for expenses where the person seeking
indemnification has been found liable to the corporation. The statute provides that it is not
exclusive of other indemnification that may be granted by a corporation's charter, bylaws,
disinterested director vote, stockholder vote, agreement or otherwise.
-2-
Table of Contents
Section 23 of our Bylaws provides that we shall indemnify and hold harmless, to the fullest
extent permitted by applicable law as it presently exists or may hereafter be amended, any person
(an "Indemnitee") who was or is made or is threatened to be made a party or is otherwise involved
in any action, suit or proceeding, whether civil, criminal, administrative or investigative (a
"proceeding"), by reason of the fact that he, or a person for whom he is the legal representative,
is or was a director or officer of ours, or is or was serving at our written request as a director,
officer, employee or agent of another corporation or of a partnership, joint venture, trust,
enterprise or nonprofit entity, including service with respect to employee benefit plans, against
all liability and loss suffered and expenses (including attorneys' fees as incurred) reasonably
incurred by him.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers or persons controlling us pursuant to the foregoing provisions, or
otherwise, we have been advised that in the opinion of the Commission, such indemnification is
against public policy as expressed in the Securities Act and is, therefore, unenforceable.
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
4.1
TopSpin Medical, Inc. 2001 Israeli Stock Option Plan (incorporated herein by
reference to Exhibit 10.1 to the Registrant's Registration Statement on Form SB-2 (File
No. 333-142242) filed on April 20, 2007).
4.2
TopSpin Medical, Inc. 2003 Israeli Stock Option Plan (incorporated herein by
reference to Exhibit 10.2 to the Registrant's Registration Statement on Form SB-2 (File
No. 333-142242) filed on April 20, 2007).
5.1
Opinion of Pepper Hamilton LLP as to the validity of the securities being registered.
23.1
Consent of Kost Forer Gabbay & Kasierer.
23.2
Consent of Pepper Hamilton LLP (contained in Exhibit 5.1).
24.1
Powers of Attorney.
Item 9. Undertakings
.
(a)
The undersigned small business issuer hereby undertakes:
(1) To file, during any period in which it offers or sales securities, a
post-effective amendment to this Registration Statement to include any additional or
changed material information on the plan of distribution;
(2) That, for the purpose of determining any liability under the Securities Act, to
treat each post-effective amendment as a new registration statement of the
securities offered herein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof; and
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered that remain unsold at the termination of the offering.
-3-
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in Lod, Israel on October 15, 2007.
TOPSPIN MEDICAL, INC.
By:
/s/ Yaron Tal
Yaron Tal
Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated on October 15, 2007:
SIGNATURE
TITLE
/s/ Yaron Tal
Yaron Tal
Chief Executive Officer and President
(principal executive officer)
/s/ Eyal Kolka
Eyal Kolka
Chief Financial Officer and Secretary
(principal financial and accounting officer)
*
Michael Berman
Chairman
of the Board of Directors
*
Erez Golan
Director
*
Zvi Schechter
Director
*
Nissim Darvish
Director
*
Neil Cohen
Director
*
Gil Bianco
Director
*
Ora Setter
Director
* By:
/s/ Eyal Kolka
Eyal Kolka, as Attorney-in-Fact
Table of Contents
EXHIBIT INDEX
Exhibits
4.1
TopSpin Medical, Inc. 2001 Israeli Stock Option Plan (incorporated herein by
reference to Exhibit 10.1 to the Registrant's Registration Statement on Form SB-2 (File
No. 333-142242) filed on April 20, 2007).
4.2
TopSpin Medical, Inc. 2003 Israeli Stock Option Plan (incorporated herein by
reference to Exhibit 10.2 to the Registrant's Registration Statement on Form SB-2 (File
No. 333-142242) filed on April 20, 2007).
5.1
Opinion of Pepper Hamilton LLP as to the validity of the securities being registered.
23.1
Consent of Kost Forer Gabbay & Kasierer.
23.2
Consent of Pepper Hamilton LLP (contained in Exhibit 5.1).
24.1
Powers of Attorney.