Company Helius Therapeutics, a cannabis biotechnology company, has announced this morning that the company has been granted the first ever cannabis cultivation license in the country of New Zealand by their Ministry of Health. The company will be cultivating cannabis at its East Tamaki facility and is being funded by New Zealand billionaire Guy Haddleton.
In Helius Therapeutics first year of operation it has impressively raised $15 million dollars and has gained an additional 10,000 sqm of greenhouse cultivation space on their 20 acre property for medicinal cannabis. The plan is for Helius Therapeutics to implement a cannabis breeding program to develop a wide range of different strains for medicinal patients in New Zealand.
Helius is also in the process of developing clinical trials with patients in New Zealand which will target sleep disorders, anxiety, arthritis and chronic pain and is set to open its own cannabinoid research laboratory to conduct R&D in 2018 as well.
“Securing our cultivation license is the result of nearly a year’s work and a significant financial investment. Our license allows us to shift up a gear, move into the next phase of development and commence cultivating thousands of plants here in Auckland,” said Executive Director and co-founder of Helius, Paul Manning.