Stanley Brothers just failed to break the A$1 million mark as its crowdfunding offer closed on Birchal.

The US firm, which launched in Australia under a joint venture with FoliuMed, raised A$974,915 from 645 investors.

Jesse Stanley welcomed 645 investors to the Stanley Brothers fold after raising nearly $1m on crowdfunding platform Birchal

It had offered shares at 35c with the company aiming to raise a maximum of $3m. Stanley Brothers has valued the company at $35m.

Funds will be used to step up prescriber and patient education, with co-founder Jesse Stanley set on building an “army of advocates” to lobby for reform.

Meanwhile, WA-based Cannaponics has so far raised $1.37m from 893 investors in its second Birchal campaign, with seven days of the offer to run.

Management has valued the firm at $77m.

Steve has reported for a number of consumer and B2B titles over a journalism career spanning more than three decades. He is a regulator contributor to health journal, The Medical Republic, writing on...

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