REG - Crystal Amber Fund - Morphic Medical Inc obtains regulatory approval

Crystal Amber FundAnnouncement

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RNS Number : 5081P  Crystal Amber Fund Limited  03 July 2025

3 July 2025

 

Crystal Amber Fund Limited

("Crystal Amber")

 

Morphic Medical Inc ("MMI") obtains European regulatory approval for its
obesity and diabetes treatment

The Board of Crystal Amber is pleased to announce that MMI, the medical device
company in which it owns 98% of the issued share capital, has received CE Mark
certification for its revolutionary RESET® therapy. This is the first
endoscopic, non-surgical treatment for both obesity and Type 2 diabetes in
Europe.

This CE designation, which ensures RESET® has met all European Commission
safety, health and environmental protection requirements, will allow access to
treatment for the estimated 93 million patients in Europe living with obesity
and type 2 diabetes.

With CE Mark approval now in place, MMI will begin offering RESET® in
Germany, with plans to expand across the European Union and other countries
recognising CE certification. UK approval for RESET® is expected in the
coming weeks.

Clinical studies have shown that RESET® significantly exceeds international
safety and effectiveness standards for endoscopic weight-loss treatments. On
average, patients lost 19% of their total body weight within a year -
outperforming the threshold set by leading medical societies.

Importantly, both the European Society for Gastrointestinal Endoscopy (ESGE)
and the American Society for Gastrointestinal Endoscopy (ASGE) have endorsed
RESET® in their latest clinical guidelines for obesity treatments - a strong
validation from the medical community.

The treatment is a simple, 20-minute outpatient procedure that delivers
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, which typically result in patients regaining
weight once they discontinue the drug.

RESET® works by placing a temporary liner in the small intestine, helping
patients improve their metabolism and control blood sugar levels without major
surgery. The product essentially works to enhance the body's GLP-1 hormones
which transmit a feeling of fullness to the brain.  This helps reduce the
risk of serious complications like heart disease and worsening diabetes.

With nearly 60% of adults in Europe living with overweight or obesity, and
type 2 diabetes rates rising sharply, healthcare systems are under increasing
financial pressure as Governments balance the cost of managing chronic
diseases against other priorities like increasing defence spending.

RESET® offers a new, affordable, and highly effective option that could
reduce the long-term burden on public health budgets, with diabetes costing
the NHS almost £14bn alone in 2021/22 according to one 2024 study (York
Health Economics Consortium).

Christopher Waldron, Chairman of Crystal Amber, commented:

"Since 2020, Crystal Amber has been the sole provider of development capital
of more than £25 million to support MMI. Our continued activism, vision and
commitment has yielded a 98 per cent 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."

 

For further enquiries please contact:

 

 

Sodali & Co - Financial PR adviser to Morphic Medical Inc

Victoria Palmer-Moore / Russ Lynch / Sam Austrums

Tel: 020 7250 1446

morphicmedical@sodali.com

 

Crystal Amber Fund Limited

Chris Waldron (Chairman)

Tel: 01481 742 742

www.crystalamber.com (http://www.crystalamber.com)

 

Allenby Capital Limited - Nominated Adviser

Jeremy Porter/ Dan Dearden-Williams

Tel: 020 3328 5656

 

Winterflood Investment Trusts - Broker

Joe Winkley/Neil Langford

Tel: 020 3100 0160

 

Crystal Amber Advisers (UK) LLP - Investment Adviser

Richard Bernstein

Tel: 020 7478 9080

 

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