Crystal Amber Fund Limited (AIM:CRS) shares surged 13% after its portfolio company Morphic Medical Inc (MMI) received European regulatory approval for RESET, a new, non-surgical treatment for obesity and type 2 diabetes.
Crystal Amber holds 98% of MMI’s equity.
RESET has secured CE Mark certification, allowing it to launch in Germany with expansion planned across the European Union. UK approval is expected shortly.
The outpatient procedure, completed in 20 minutes, uses a temporary intestinal liner to aid weight loss and blood sugar control, enhancing natural GLP-1 hormone responses without the need for invasive surgery or long-term drug use.
Clinical trials showed patients lost an average of 19% of body weight within a year.
The treatment has already been endorsed by major European and American endoscopy societies.
Crystal Amber has invested over £25 million in MMI since 2020.
Chairman Christopher Waldron hailed the approval as a significant step towards improving public health and delivering long-term returns.
The shares rose 18.3p to 153.8p.