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.
Metsera, Inc. is a biopharmaceutical company developing therapeutic candidates. Its business model inherently involves animal testing as part of the preclinical drug development and regulatory compliance process required to bring new medicines to market. The company's financial filings and license agreements confirm its status as an active drug developer, a sector where animal research is a standard, material component of the product pipeline. Without specific, publicly available evidence detailing the scale or nature of Metsera's animal testing protocols, this exclusion is based on the company's core operational category. Further evidence regarding the specific use of animals in its research programs would be required to provide a more detailed narrative.
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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.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.