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.
Arcellx Inc. is a clinical-stage biotechnology company developing cell therapies for cancer treatment. As documented by Cruelty Free Investors, the company undertakes preclinical studies on animals to examine the safety profile of its therapeutic candidates. This reliance on animal testing is a standard, material component of its drug development pipeline for regulatory approval. The company’s merger agreement explicitly references compliance with the United States Animal Welfare Act and comparable regulations governing animal research.
Research Sources
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Related Exclusions
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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.