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Galmed Pharmaceuticals Ltd.

GLMD

Health Care

2

exclusion reasons

1 theme

Animal Welfare (2)
GLMD Health Care Current as of March 2026

Galmed Pharmaceuticals Ltd. is screened out under 2 exclusion reasons spanning 1 issue category.

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. It is a statement of values.

Animal Exploitation
Since Jan 3, 2022

Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company whose primary drug candidate, Aramchol, is being developed for the treatment of nonalcoholic steatohepatitis (NASH). The development of this and other pharmaceutical candidates inherently involves preclinical animal testing to assess safety and efficacy, a standard industry practice for regulatory approval. While specific details of Galmed's animal testing protocols are not publicly disclosed in the gathered evidence, the company's research and development activities place it within the broad category of commercial enterprises that rely on animal models.

Animal Testing & Research
Since Jul 28, 2021

Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company developing therapies for liver, metabolic, and inflammatory diseases. Its drug development pipeline, including its lead compound Aramchol, requires and has utilized animal testing as a standard component of preclinical research. The company's regulatory filings, including its Form 20-F, explicitly reference the completion of nonclinical laboratory tests and animal studies as part of the development process required by the FDA. In 2014, Galmed publicly announced the completion of two chronic toxicology studies in animals for Aramchol. As a pharmaceutical research entity, Galmed's business model is inherently reliant on animal testing to fulfill regulatory requirements for investigational new drug applications and clinical trial authorizations.

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.

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