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."
Read more at RNZ
