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.
MediWound Ltd. develops and commercializes enzymatic therapeutics for tissue repair, primarily using bromelain extracted from pineapple stems. The company’s lead product, NexoBrid, is approved for the removal of dead tissue in severe burns and is derived from this plant-based source. While its current commercial products are not animal-derived, the company’s core business of biopharmaceutical development inherently involves animal testing as a required component of the regulatory pathway for drug approval. This places MediWound within the broad category of companies that rely on animal research to bring medical products to market.
Public SEC filings list compliance with the Animal Welfare Act and other federal statutes governing animal research as a standard regulatory risk. The available evidence does not specify the scale, species, or internal welfare standards of MediWound’s animal testing operations. Without a publicly available animal testing policy or commitment to alternative methods, the company’s operations fall under the general exclusion for commercial activities that exploit animals.
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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.
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