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NANOBIOTIX SA

NBTX

1

exclusion reason

1 theme

Animal Welfare (1)
NBTX Current as of April 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

Nanobiotix SA is a clinical-stage biotechnology company whose core product, NBTXR3, is a hafnium oxide nanoparticle designed to be activated by radiotherapy. The development, testing, and regulatory approval pathway for this and other therapeutic candidates inherently involves animal experimentation. Preclinical studies to evaluate the safety, biodistribution, and efficacy of such novel medical treatments are standard industry practice and are required by global health authorities like the FDA and EMA before human trials can commence.

The available evidence does not specify the scale, nature, or alternatives considered in Nanobiotix's animal testing protocols. The company's SEC filings reference the "exploitation" of NBTXR3, which includes the full spectrum of development activities. Without further public disclosure regarding its use of animal models, the company's operations fall under the broad commercial exploitation of animals for product development and commercialization.

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.