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.
Vivani Medical, Inc. is a biotechnology company developing implantable drug delivery systems. Its lead product candidate, NPM-115, is a long-acting exenatide implant for chronic weight management. The development of this and other implantable devices requires extensive animal testing for preclinical safety and efficacy studies. The company has publicly documented these studies, including a 112-day study in animals to assess the drug release profile and biocompatibility of its implant technology. Vivani Medical is listed by Cruelty Free Investors as a company that conducts animal testing.
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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.