16th Feb 2026 17:25
(Alliance News) - Crystal Amber Fund Ltd on Monday said that it has invested a further USD8 million in Morphic Medical Inc to take a stake of close to 98%.
The activist fund investing in small and mid-cap UK equities said it has invested USD8 million in three tranches at 48 US cents per share since mid July.
Crystal Amber noted that Morphic Medical owns Reset, which it describes as the first medical device focused on treating the root cause of obesity and type 2 diabetes.
The device is an endoscopically delivered device meant to bridge the gap between medications and permanent surgeries.
Crystal Amber said patients in the UK and India have had procedures using the device since it received the European CE mark and UK regulatory approval.
It has also signed distribution agreements in Spain, Belgium, Netherlands, Czech Republic and the Middle East.
The firm added that patient enrolment for its US Step-1 study is ongoing and expected to complete between late 2027 and early 2028. It expects US approval for the device in either 2028 or 2029.
"Last month, two further procedures were carried out in Miami and seven patients are scheduled for February 2026. The FDA has also recently agreed to a change to the study protocol, which will speed up patient recruitment," the investment company added.
In addition, German hospitals will be able to apply for reimbursement for the use of the Reset device following the assessment of the German reimbursement system.
Morphic Medical has also agreed terms with contract manufacturers to start manufacturing the device at scale, while it remains in discussions with "several potential investors", including some large, multinational medical device companies.
Morphic Medical's directors "believe that any such investment would be at a premium to [Crystal Amber's] current carrying value" but noted that there can be no certainty at this stage.
Crystal Amber Fund shares closed up 2.4% at 125.89 pence each in London on Monday.
By Martin Miraglia, Alliance News reporter
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