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.
FibroGen, Inc. is a biotechnology company whose drug development pipeline relies on animal testing as a core component of its research and development activities. The company has publicly disclosed in its SEC filings that its ability to “conduct, or contract others to conduct, animal testing” is material to its business, indicating that animal use is integral to its operations. FibroGen’s preclinical studies for its products, including its fibrinogen-based surgical sealant TachoSil, have involved animal testing to assess safety and efficacy. The company’s exclusive licensing agreements, such as its 2021 agreement with Eluminex Biosciences, further demonstrate its ongoing commitment to developing pharmaceutical products that are dependent on animal data for regulatory approval.
FibroGen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics for fibrosis, anemia, and cancer. As a clinical-stage biotech, its product development pipeline inherently requires animal testing for preclinical safety and efficacy studies to meet regulatory requirements for investigational new drug (IND) applications and eventual marketing approval. The company's lead programs, including treatments for idiopathic pulmonary fibrosis, involve complex biological mechanisms that necessitate in vivo models.
The company's operations in China, through subsidiary FibroGen China, involve engaging third-party contract research organizations (CROs) to conduct clinical trials. This outsourcing extends to preclinical work, where CROs routinely perform animal studies as part of standardized testing packages. While specific violation records for FibroGen are not detailed in the provided evidence, the biopharmaceutical sector's reliance on animal models is structural. The company's research on recombinant collagens and other biologic platforms follows a development pathway that is currently inseparable from animal testing, as reflected in industry literature and regulatory frameworks.
Animal testing remains an embedded phase in the therapeutic development process for companies like FibroGen, with no publicly announced alternative testing initiatives or commitments to replace animal models in its research pipeline. This places the company in direct conflict with cruelty-free investment principles.
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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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