Helius Therapeutics, a New Zealand medicinal cannabis company, has entered voluntary administration due to ongoing commercial and regulatory hurdles.
High-profile businessman and rich-lister Guy Haddleton, a director and the company’s largest investor, poured $15 million into the business back in 2018.
Haddleton holds a 28.39% stake in Helius Group, the parent company of Helius Therapeutics.
The company announced that the decision stems from ongoing commercial pressures amid the tough regulatory and market conditions facing medicinal cannabis.
Helius Therapeutics plans to shut down its East Tāmaki manufacturing facility.
“This is an incredibly difficult moment for our team and for the wider medical cannabis industry,” chief executive Vicky Taylor said.
“Helius was founded with a clear purpose – to provide high-quality, clinically trusted cannabis medicines that could genuinely improve patients’ lives.”
“Unfortunately, the current commercial and regulatory environment has made it very challenging for manufacturers to operate sustainably at scale.”
“Restrictions on market education haven’t enabled anyone in the industry to help as many patients as they potentially could.”
The voluntary administration won’t affect Helius Group’s clinic business, Cannaplus, which was acquired in 2025 and runs independently.
Taylor emphasised that the company’s top priority remains supporting staff and ensuring patients keep receiving care via the clinic network.
“Most importantly, I want to thank the great people who have worked at Helius Therapeutics. Their commitment to patients, innovation and quality has been remarkable, and I’m grateful for everything they have contributed.”
“While this time is a disappointing moment, the need for safe, affordable access to medical cannabis remains strong, and the progress made by this industry will continue to benefit patients in the years ahead.”