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.
Ceribell Inc. develops and markets medical devices, including its flagship EEG headband system, which incorporates disposable electrodes. The company’s product development and regulatory testing processes involve animal testing. Ceribell has not adopted a corporate policy against animal testing, nor has it committed to developing or using non-animal testing methods for its medical device validation. This reliance on animal subjects for product development and compliance places the company within the scope of commercial animal exploitation. The evidence gathered does not specify the scale or species involved, but the absence of a public commitment to alternative testing methods indicates ongoing use.
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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.