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PDS BIOTECHNOLOGY CORP

PDSB

Health Care

1

exclusion reason

1 theme

Animal Welfare (1)
PDSB Health Care 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

PDS Biotechnology Corporation is a clinical-stage biotechnology company whose core product development relies on animal testing. Its lead investigational cancer immunotherapy, PDS0101, has progressed through preclinical studies involving animal models, a standard practice in the pharmaceutical industry to assess safety and efficacy before human trials. The company’s research and development activities inherently involve the commercial exploitation of animals for biomedical testing.

The specific welfare impacts of such testing are documented in industry studies. For example, a 2020 toxicity study on an investigational compound, conducted in cynomolgus monkeys, references adherence to animal welfare decrees, highlighting the procedural scale involved. While PDS Biotechnology itself has not been cited for direct Animal Welfare Act violations, the broader biopharmaceutical sector it operates within has faced significant penalties for non-compliance, including a landmark $3.5 million settlement by a research facility in 2016 for animal welfare violations. This underscores the systemic animal exploitation risk inherent to the company's business model.

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.