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.
NanoVibronix, Inc. develops and markets portable therapeutic ultrasound devices. Its primary commercial product, PainShield, is a wearable device designed for use on livestock, specifically for the treatment of mastitis in dairy cows. The company’s business model is centered on the sale of this equipment to the industrial animal agriculture sector. This positions the company’s revenue as dependent on the commercial exploitation of animals within the factory farming system.
The company’s 2024 Form 10-K identifies its animal health segment as a core business line, deriving revenue from the sale of its ultrasound technology for use in livestock. By manufacturing and selling equipment specifically designed for large-scale agricultural operations, NanoVibronix’s commercial success is intrinsically linked to the systems of animal confinement and production that define industrial animal agriculture.
NanoVibronix, Inc. is a medical device company that develops and sells low-intensity surface acoustic wave (SAW) ultrasound therapy devices. The company’s product development and regulatory compliance activities involve animal testing. As disclosed in a Form 10-Q report filed with the U.S. Securities and Exchange Commission, NanoVibronix conducts or commissions animal studies as part of its research and development process. This places the company within the scope of the animal testing exclusion, which applies to firms that test on animals as part of product development or regulatory compliance, including when such testing is outsourced.
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.