3rd Jul 2025 11:55
(Alliance News) - Crystal Amber Fund Ltd on Thursday saw its shares rise as it said portfolio company Morphic Medical Inc obtained European approval for its obesity and diabetes treatment.
The investor of small and mid-cap UK equities said it Morphic Medical, of which it owns 98%, has obtained CE certification for its Reset therapy.
The CE designation indicates the therapy has met all European Commission safety, health and environmental protection requirements, said Crystal Amber Fund, adding that an estimated 93 million patients with obesity and type 2 diabetes in Europe can now access the therapy.
Shares in Crystal Amber Fund were up 12% at 152.06 pence on Thursday afternoon in London.
The fund noted that Morphic Medical will now roll out Reset in Germany, noting its expansion plans for the EU and other countries that recognise the certification. It added that approval in the UK is anticipated to come in the coming weeks.
Reset works through a 20-minute outpatient procedure, said Crystal Amber Fund, with it providing "long-lasting benefits for both weight loss and blood sugar control, allowing patients to avoid alternatives such as more invasive gastric surgery or expensive GLP-1 drug therapies."
The treatment involves placing a temporary liner in the small intestine, which it said helps patients improve their metabolism and control blood sugar levels without the need for major surgery.
Chair Christopher Waldron said: "Since 2020, Crystal Amber has been the sole provider of development capital of more than GBP25 million to support MMI. Our continued activism, vision and commitment has yielded a 98% shareholding in a business with the potential to help millions of people improve their health, while offering governments a cost-effective alternative to drug-based treatments.
"In a time when public spending is stretched thin, solutions like this could be even more valuable than ever. We are very excited by the scale of the opportunity."
By Christopher Ward, Alliance News reporter
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