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.
Ocugen is a late-stage biotechnology company whose core business involves developing gene therapies and biologics for serious eye diseases, such as retinitis pigmentosa and Stargardt disease. The company's drug development pipeline, by regulatory necessity, relies on preclinical animal studies to assess the safety and activity of its product candidates. Its public filings explicitly cite the completion of preclinical laboratory tests and animal studies as a standard part of its research process. For instance, development of its COVID-19 nasal vaccine candidate proceeded to a U.S. clinical trial only after animal studies were conducted. As a pharmaceutical company seeking regulatory approval for novel biologic therapies, Ocugen's operations are fundamentally built on an animal testing model to advance its clinical programs.
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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.
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