Cellectar Biosciences, Inc.
CLRB
Health Care
2
exclusion reasons
1 theme
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.
Cellectar Biosciences is a clinical-stage biopharmaceutical company whose primary product candidates are radiotherapeutic agents for cancer treatment. The development of these drugs relies on preclinical testing using animal models. The company's recent SEC filings, including an S-1/A amendment dated June 30, 2025, explicitly reference animal studies, noting that a candidate compound "was well tolerated in these models with the animals showing no adverse events at the highest doses tested." This places the company's research and development activities within the scope of commercial animal testing.
Cellectar Biosciences, Inc. is a clinical-stage biopharmaceutical company whose core business is the development of targeted radiotherapeutic and chemotherapeutic agents for cancer treatment. As documented in its annual reports and securities filings, the company’s preclinical development pipeline relies on animal testing to assess product chemistry, formulation, and safety. For example, in a June 2025 filing, the company reported observing its drug candidate CLR 121225 to be “well tolerated” in animal models at the highest doses tested. This testing is conducted under FDA Good Laboratory Practices as part of the regulatory pathway required for human clinical trials.
The company is explicitly listed by Cruelty Free Investors for exploiting animals through animal testing conducted for its medical research and development. Its business model is intrinsically tied to preclinical laboratory and animal studies to advance its oncology drug candidates toward commercialization.
Research Sources
1 organization
Related Exclusions
Wondering what we do invest in?
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.