Another VC-Backed IPO Bites The Dust

Zonare Medical Systems Inc., a Mountain View, Calif.-based developer of ultrasound systems for diagnostic imaging, has withdrawn registration for an $86.25 million IPO. It had planned to trade on the Nasdaq under ticker symbol ZONE, with Citi and Piper Jaffray serving as co-lead underwriters.


The company has raised around $171 million in total VC funding since 1999, from firms like Frazier Healthcare Ventures (25.2%), 3i Group (18.4%), Earlybird Venture Capital (13.9%), Draper Fisher Jurvetson (13.2%), Mosaix Ventures (9.9%) and CB Healthcare Ventures (7.1%).


Zonare is the fourth VC-backed company to withdraw an IPO filing this week, following Aegerion Pharmaceuticals, Epocrates and TransMedics. That leaves just 26 such companies in registration for IPOs. Go here for the full list of remaining VC-backed IPO candidates here. Buyout-backed IPO candidates also are listed.