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.
Neurogene Inc. is a clinical-stage biotechnology company developing gene therapies for rare neurological diseases. Its pipeline includes investigational treatments for disorders such as Rett syndrome and neuronal ceroid lipofuscinoses (NCLs). The development of these therapies involves preclinical animal testing to establish safety and efficacy, a standard but required practice in the pharmaceutical industry that constitutes commercial animal exploitation.
The company’s lead product candidate, NGN-401 for Rett syndrome, is an adeno-associated virus (AAV)-based gene therapy. Regulatory submissions for such products typically require data from animal models to support clinical trials. While Neurogene’s public filings detail its scientific platform and clinical programs, they do not disclose specific policies or commitments to reduce or replace animal testing in its research and development processes.
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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.