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.
Cue Biopharma is a clinical-stage biopharmaceutical company developing a novel class of injectable biologic drugs for oncology and immunology. As a standard part of its preclinical development process, the company conducts animal studies to assess the safety, tolerability, and efficacy of its drug candidates. For example, in February 2026, the company announced preclinical safety and tolerability data for its candidate CUE-401, which was derived from studies in animal models.
The company's research and development activities are subject to FDA regulations, which currently require animal testing for drug approval. While the FDA released a roadmap in April 2025 to eventually replace animal testing in preclinical studies, this transition to new approach methodologies (NAMs) is a long-term regulatory shift. For the foreseeable future, bringing a novel biologic therapy like Cue Biopharma's pipeline to market necessitates animal testing to meet regulatory requirements for investigational new drug (IND) applications and clinical trials.
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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.
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