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.
ADC Therapeutics SA is a clinical-stage biotechnology company whose sole commercial product, ZYNLONTA (loncastuximab tesirine-lpyl), is an antibody-drug conjugate for treating relapsed or refractory large B-cell lymphoma. The development and regulatory approval of ZYNLONTA, like all novel biologic cancer therapies, required extensive preclinical testing in animal models to demonstrate safety and efficacy. The company’s pipeline of other investigational ADCs similarly relies on animal testing as a fundamental component of its research and development process. ADC Therapeutics outsources this preclinical work to contract research organizations, which conduct the animal studies on the company’s behalf to fulfill regulatory requirements for clinical trial initiation and eventual drug approval.
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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.