This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
AC Immune SA is a clinical-stage biopharmaceutical company whose core business model involves animal testing as an integral part of its drug development process. The company is listed by Cruelty Free Investors as a company that exploits animals, specifically flagged for animal testing. This activity is central to its research pipeline, which focuses on neurodegenerative diseases such as Alzheimer's and Parkinson's.
While specific financial or volumetric data on AC Immune's animal usage is not publicly detailed in the gathered evidence, its inclusion on this list indicates its operations rely on standard preclinical animal models. As a biotechnology firm developing novel therapeutics, its research methodology inherently involves animal experimentation to assess drug safety and efficacy before human trials.
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.