ZARS Files for IPO

ZARS Inc., a Salt Lake City-based developer of non-invasive drug delivery technologies, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol ZARS, with Cowan & Co. and CIBC World Markets serving as co-led underwriters. ZARS has raised around $29 million in total VC funding since 2000, from firms like Draper Fisher Jurvetson (23.1% pre-IPO stake), Wasatch Ventures (7.6%), vSpring (5.4%), ePlanet Ventures, CDIB BioScience Venture Management and Tenex.