Auckland-based medicinal cannabis company Helius Therapeutics has entered voluntary administration, effective March 11, 2026, citing a challenging commercial and regulatory environment. The move marks a significant setback for one of New Zealand’s early participants in the emerging medicinal cannabis sector.
Founded in 2018, Helius Therapeutics specialized in the cultivation, research, and manufacturing of GMP-certified medicinal cannabis products, according to the company’s LinkedIn profile. The voluntary administration, however, does not extend to the Cannaplus clinic business, which is also owned by Helius Group.
Vicky Taylor, who assumed the role of Helius Therapeutics chief executive in late 2025, described the decision as “an incredibly difficult moment” for the company’s staff and the wider industry. “Unfortunately, the current commercial and regulatory environment has made it very challenging for manufacturers to operate sustainably at scale,” Taylor said in a statement.
The company’s East Tāmaki manufacturing facility will be closed as part of the administration process. Daniel Stoneman and Neale Jackson of Calibre Partners have been appointed as voluntary administrators. Stoneman indicated that the business would continue to operate at a reduced capacity for the next six weeks to facilitate the sale of existing stock, with all manufacturing operations now ceased and assets slated for sale. “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 stated.
Taylor emphasized the company’s commitment to supporting its employees and ensuring continued patient care through its network of clinics. “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.”
The collapse of Helius Therapeutics follows repeated calls from the sector for regulatory reform in New Zealand, aimed at easing the burdens faced by manufacturers. The company’s financial difficulties underscore the challenges of operating within the current framework, according to reports.
Kiwi rich-lister Guy Haddleton is associated with the company, according to Insolvency Guardian, but his current position was not detailed in available reports.
