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.
Zymeworks Inc. is a clinical-stage biotechnology company whose core business of discovering and developing novel biotherapeutics requires animal testing as a standard component of its preclinical research. The company's public disclosures and press releases routinely cite data from preclinical animal trials as a necessary step in its drug development process. For example, in October 2024, Zymeworks presented new preclinical data on an antibody-drug conjugate, reporting results from tolerability studies in non-human primates and rats.
As a pharmaceutical research company, Zymeworks' operations are inherently subject to regulatory requirements that mandate animal testing for safety and efficacy evaluation before human clinical trials can begin. The company's SEC filings explicitly list preclinical animal trials among the applicable requirements for its product candidates. This places Zymeworks within the category of companies that commission and rely on animal testing as an integral part of its business model for regulatory compliance and product development.
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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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