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CANDEL THERAPEUTICS INC

CADL

Health Care

1

exclusion reason

1 theme

Animal Welfare (1)
CADL Health Care Current as of April 2026

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.

Animal Testing & Research
Since Mar 12, 2026

Candel Therapeutics is a clinical-stage biotechnology company whose core business model involves developing cancer therapies that require animal testing for regulatory approval and research. The company’s lead product candidates, including its oncolytic viral immunotherapies, are in clinical trials that followed preclinical studies conducted in animal models. This reliance on animal experimentation is inherent to its drug development pipeline.

The company’s operations fall under the commercial exploitation of animals, as its research and development activities are built upon the use of live animals in laboratory settings. While specific details on the scale or nature of its animal use are not publicly disclosed in its financial filings, the biopharmaceutical sector’s standard pathway for novel therapeutics necessitates extensive animal testing to demonstrate safety and efficacy before human trials. Candel Therapeutics has not published a formal animal welfare policy or alternative testing commitments that would mitigate this exclusionary practice.

Research Sources 1 organization
Cruelty Free Investors
External

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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.