LONDON - Crystal Amber Fund Limited (LSE:CRS) has received approximately £18 million in final proceeds from the completed takeover of  De La Rue  (LON:DLAR) plc, according to a fund update released Friday.

The payment follows the De La Rue scheme of arrangement becoming effective on July 2, bringing Crystal Amber’s total proceeds from the transaction to £40.67 million since De La Rue entered an offer period.

The fund’s board is considering its future strategy and use of these proceeds, including potential capital returns to shareholders through its ongoing share buyback program and possible distributions.

Crystal Amber is now focusing on its investment in Morphic Medical Inc. (MMI), which recently obtained CE Mark approval for its RESET device, allowing sales to begin in Germany with plans to expand across the European Union. The company expects UK approval through MHRA registration in the coming weeks.

The RESET device is a minimally invasive, reversible implant that mimics gastric bypass surgery without permanently altering patient anatomy. The procedure takes approximately 20 minutes, with the device typically remaining in place for nine months before removal.

MMI is currently recruiting patients for an FDA-approved pivotal study, with potential U.S. approval estimated for the second half of 2027. The company is in discussions with several potential investors, including an unnamed S&P 500 healthcare company that has expressed interest in investing $5-10 million.

Crystal Amber has invested $5.15 million in MMI since the start of 2025 at $0.48 per share and anticipates investing up to an additional $1.5 million in the coming weeks. The fund currently owns approximately 96.7% of MMI’s combined issued common and preference shares.

According to the press release, Crystal Amber is also seeking to maximize value from its other investments in Sigma Broking Limited, Allied Minds, and Sutton Harbour Plc.

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