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.
Kodiak Sciences Inc. is a clinical-stage biopharmaceutical company whose core business model relies on animal testing to develop its therapeutic candidates. The company states that its proprietary antibody biopolymer conjugate platform and product candidates are evaluated in preclinical studies using animal models. For example, the company has disclosed that its lead product candidate for retinal diseases, tarcocimab tedromer (KSI-301), was tested in non-human primate models of vascular leakage and neovascularization as part of its development pathway. This use of animals is not incidental but integral to the company's research, development, and regulatory submission process for its drug pipeline.
The evidence provided indicates the company explicitly reports exploiting animals for product testing, noting that an antibody intermediate is produced in a system that requires subsequent animal-based validation. As a biotechnology firm with no marketed products, its entire valuation and future revenue potential are currently contingent on successful preclinical and clinical trials, a process that inherently and routinely involves animal testing. This places the company's operations squarely within the animal_exploitation exclusion category.
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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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