Source: Radio New Zealand
Southern Medicinal has converted the old Mataura paper mill into a medicinal cannabis and hemp growing, testing and processing facility. Supplied / Southern Medicinal
Medicinal cannabis company Helius Therapeutics has been placed in voluntary administration, citing a tough commercial and regulatory environment.
The Auckland-based company was founded in 2018, and was one of the early players in the sector.
The voluntary administration does not impact the clinic business owned by Helius Group, and operating under Cannaplus.
Helius chief executive Vicky Taylor, who joined in late 2025, said the decision reflected challenges facing the sector.
“This is an incredibly difficult moment for our team and for the wider medical cannabis industry,” Taylor said.
“Unfortunately, the current commercial and regulatory environment has made it very challenging for manufacturers to operate sustainably at scale.”
Over the past few years, the sector has made repeated calls to ease regulatory burdens in New Zealand.
Helius Therapeutics will close its East Tāmaki manufacturing facility.
Daniel Stoneman and Neale Jackson of Calibre Partners were appointed voluntary administrators.
Stoneman said they would continue to trade the business at reduced capacity over the next six weeks to sell the remaining stock on hand.
All manufacturing operations have ceased, and assets would be sold, he said.
“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.
Taylor said its priority was to support staff and ensure patients received care through its clinic network.
“Most importantly, I want to thank the great people who have worked at Helius Therapeutics,” she said.
“Their commitment to patients, innovation and quality has been remarkable, and I’m grateful for everything they have contributed.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
