Founded in 2018, SETEK Therapeutics (SETEK) is a New Zealand owned company which aims to cultivate, extract, process and sell pharmaceutical grade, 100% NZ certified organic medicinal cannabis extracts through wholesale and retail distribution to licensed organisations throughout the Asia Pacific region and beyond.
SETEK’s Mission is to help improve the quality of people’s lives through the cultivation, extraction and distribution of pharmaceutical grade (GMP), 100% NZ Certified Organic cannabis extracts.
SETEK is raising up to NZD$2m, followed by an additional c. NZD$9m via a second stage funding round. The shareholders of SETEK are looking to raise additional capital to fund the next stage of growth. The short-term objective is to design and build SETEK’s new cultivation, manufacture and distribution facility, and continue with it's recruitment strategy.
Medical Cannabis Regulations
- In April 2019 SETEK became the fourth company in NZ to receive a license to cultivate a prohibited plant for research purposes.
- New regulatory framework expected to be operational March 2020.
- Further proposed legislative/regulatory change expected in 2021/22 will improve patient access and increase SETEK’s domestic and international market opportunities exponentially.
Sustainable and responsible
- One of the world’s first net carbon neutral indoor cannabis operations.
- 100% New Zealand Organic certified.
- SETEK supports the Aotearoa New Zealand SmokeFree 2025 goal.
- Commitment to regional economic development and funding of social and health-based programmes.
- 26-hectare elevated greenfield site overlooking Lake Taupo.
- 4,700 sqm indoor and greenhouse facility with initial scaled production capacity of 17,000kg dried flower per annum for extraction/processing.
- Fully developed and costed construction, cultivation and extraction model.
- Experienced management team
- Highly credentialed advisory board chaired by former Associate Minister of Health, Hon Peter Dunne.
- Highly skilled team of technical and scientific experts.
- Wide ranging clinical and distribution networks.
- Alliances formed with international industry participants.
- Facility design phase commenced – August 2019.
- Acquisition of existing New Zealand business specialising in the design and development of LED horticultural grow lights - September 2019
100% acquisition of a New Zealand cannabis research & development company (breeding & genetics) - September 2019
- MOU signed with AFT Pharmaceuticals to work together in the research, development and commercialisation of medicinal cannabis products - October 2019
- Construction phase commences – January 2020.
- Construction complete – July 2020.
- Good Manufacturing Practice (GMP) and organic certification achieved – December 2020.
- Wholesale distribution commences – December 2020.
- Retail distribution commences – 2021.
SETEK is undertaking a capital raise of up to NZ$2m of its Stage 1 funding round. The raise will occur at a pre-money valuation of NZ$11.3m. SETEK will accept minimum commitments of $50,000.
Upon registering interest, you will be contacted by the advisor to SETEK, Armillary Private Capital.