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MIND MEDICINE (MINDMED) INC

MNMD

Health Care

1

exclusion reason

1 theme

Animal Welfare (1)
MNMD Health Care Current as of March 2026

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.

Animal Testing & Research
Since Mar 12, 2026

MindMed is a clinical-stage biotechnology company developing psychedelic-inspired medicines. Its research pipeline includes LSD and psilocybin analogs for conditions like anxiety disorders. The development of these novel therapeutics requires extensive preclinical testing, which involves the use of animals to assess pharmacology, toxicology, and abuse potential. Standard regulatory pathways for drug approval mandate such animal studies to evaluate safety and efficacy before human trials can proceed. This places the company's core research and development activities within the scope of commercial animal testing.

While the specific scale of MindMed's animal testing is not detailed in public filings, the nature of its work—advancing multiple drug candidates through the FDA pipeline—implies a material and ongoing reliance on animal models. The company’s research collaborations, such as with NYU Langone, further indicate engagement with institutions conducting this necessary preclinical work.

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.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.