REACH - a non-regulatory announcement

5 August 2025

Crystal Amber Fund Limited

("Crystal Amber Fund", the "Company" or the "Fund")

Morphic Medical Inc. appoints new Chief Executive

The Board of Crystal Amber Fund is pleased to announce that Morphic Medical Inc. ("MMI"), the medical device company that has pioneered minimally invasive treatments of obesity and cardiometabolic disorders in which it owns 96.7% of the issued share capital has appointed Mike Gutteridge, most recently MMI's Commercial Director, as Chief Executive. Mike brings a wealth of experience in the bariatric endoscopy space.

Last month, Crystal Amber announced that MMI had received CE Mark certification for its revolutionary RESET® therapy, making this 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, allows access to treatment for the estimated 93 million patients in Europe living with obesity and type 2 diabetes.

After five years and with CE Mark now achieved, Joe Virgilio has stepped down as Chief Executive. 

Christopher Waldron, Chairman of Crystal Amber commented: "The Board would like to thank Joe for delivering CE Mark and for all his efforts and commitment to innovation and patient care. The Board is excited that Mike, who brings a successful track record of international commercialisation, will be leading MMI as it enters a new and exciting stage of growth." 

Mike Gutteridge commented: "I am honoured to become Chief Executive. With over thirty years in the MedTech sector spanning clinical innovation, commercial strategy, market development and reimbursement, I am energised by the opportunity to lead Morphic into its next phase, a focused expansion into global markets, accelerated commercialisation, and a deepening of our commitment to improving the lives of patients through effective durable therapies. This is an exciting time for our company, and I am proud to help shape what comes next."

For further enquiries please contact:

Crystal Amber Fund Limited

Chris Waldron (Chairman)

Tel: 01481 742 742

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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