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.
MediciNova is a clinical-stage biopharmaceutical company whose drug development pipeline necessitates animal testing as a core component of its preclinical research. The company’s public filings, including its annual reports on Form 10-K, explicitly cite the “completion of nonclinical laboratory, animal studies, and formulation studies” as a routine part of its development process. This places MediciNova within the category of pharmaceutical firms that rely on animal models for regulatory compliance and safety assessment of its investigational compounds. The company’s research areas, which have included investigating treatments for drug addiction and withdrawal, typically involve animal studies in early-stage development to assess efficacy and toxicity. While some industry efforts aim to reduce animal testing through advanced models, MediciNova’s disclosed development activities confirm its ongoing use of animals in research.
Research Sources
1 organization
Related Exclusions
Wondering what we do invest in?
The Naughty List
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.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.