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.
OmniAB’s core business is the discovery and development of therapeutic antibodies using animal-based research platforms. The company’s proprietary OmniAb® platform relies on generating antibodies in genetically engineered animals, including mice, rats, and chickens. This model of commercializing animal-derived biological products constitutes a form of animal exploitation.
The company’s operations fall under this exclusion due to the inherent commercial exploitation of animals in its research and development process. While the provided evidence does not cite a specific, direct penalty against OmniAB, the context references significant fines and license revocations for animal welfare violations within the broader research industry, including a landmark $3.5 million penalty levied against another firm in 2016. This highlights the severe regulatory and ethical risks associated with business models dependent on large-scale animal use.
Research Sources
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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.