“Coolsculptor” Zeltiq Plans IPO
Zeltiq Aesthetics, a Pleasanton, CA-based medical device startup, filed registration papers yesterday with the Securities and Exchange Commission in preparation for an initial public offering. The company has developed a non-invasive procedure, called “CoolSculpting,” that uses cold to eliminate fat cells beneath the skin. The company hopes to raise up to $115 million in the offering. According to the filing, Zeltiq’s largest shareholders are venture investors Advanced Technology Ventures (30.7 percent), Frazier Healthcare Ventures (28.8 percent), Venrock (20.3 percent), and Aisling Capital (13.2 percent).