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.
Profound Medical Corp. develops and markets medical devices, including the TULSA-PRO system, which uses MRI-guided focused ultrasound for prostate ablation. The development and regulatory clearance of such medical devices typically requires extensive preclinical testing on animal models to demonstrate safety and efficacy. This process involves the commercial exploitation of animals in laboratory settings, which falls under the general animal exploitation exclusion category. The company's operations are subject to U.S. Food and Drug Administration (FDA) regulations, which mandate animal testing for certain classes of medical devices prior to human clinical trials. While specific details of Profound Medical's animal testing protocols are not publicly disclosed in the provided evidence, the nature of its business and the regulatory pathway for its core products indicate a reliance on animal experimentation as a standard, material part of its research and development activities.
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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.
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