Medicinal cannabis company Helius Therapeutics has been placed in voluntary administration, citing a tough commercial and regulatory environment.<\/p>\n
The Auckland-based company was founded in 2018, and was one of the early players in the sector.<\/p>\n
The voluntary administration does not impact the clinic business owned by Helius Group, and operating under Cannaplus.<\/p>\n
Helius chief executive Vicky Taylor, who joined in late 2025, said the decision reflected challenges facing the sector.<\/p>\n
“This is an incredibly difficult moment for our team and for the wider medical cannabis industry,” Taylor said.<\/p>\n
“Unfortunately, the current commercial and regulatory environment has made it very challenging for manufacturers to operate sustainably at scale.”<\/p>\n
Over the past few years, the sector has made repeated calls to ease regulatory burdens in New Zealand.<\/p>\n
Helius Therapeutics will close its East T\u0101maki manufacturing facility.<\/p>\n
Daniel Stoneman and Neale Jackson of Calibre Partners were appointed voluntary administrators.<\/p>\n
Stoneman said they would continue to trade the business at reduced capacity over the next six weeks to sell the remaining stock on hand.<\/p>\n
All manufacturing operations have ceased, and assets would be sold, he said.<\/p>\n
“The company has been placed in voluntary administration following a sustained period of trading losses driven by high operating costs and a challenging regulatory environment,” Stoneman said.<\/p>\n
Taylor said its priority was to support staff and ensure patients received care through its clinic network.<\/p>\n
“Most importantly, I want to thank the great people who have worked at Helius Therapeutics,” she said.<\/p>\n
“Their commitment to patients, innovation and quality has been remarkable, and I’m grateful for everything they have contributed.”<\/p>\n