The Stanley Brothers, founders of Charlotte's Web, have kicked off a Birchal crowdfunding campaign aimed at assembling an "army of advocates" to push for cannabis regulatory reform across Australia.
The company is working alongside FoliuMed to initially bring three medicines to market through the Special Access Scheme, with additional products planned for release down the line.
FoliuMed, which handles manufacturing and R&D in Germany and cultivation in South America, announced last July that it had partnered with the brothers to bring their new venture to Australia.
The move to crowdfund draws on lessons from the brothers' earlier work with Charlotte's Web in the US, according to co-founder Jesse Stanley.
"Building an army of advocates is how we established Charlotte's Web more than 10 years ago, and it was this army that mobilised to create a seismic change in the world," he said.
"Crowdfunding in Australia has the same impact – it builds a community of passionate believers who will help us pave the way for more sensible regulation."
Stanley said funds raised will go toward educating prescribers and patients "so they can make more informed decisions about their wellness".
He added: "We will also put money towards product development so a wider range of products can be introduced to Australia – treating a range of conditions that have shown real promise overseas already."
Expressions of interest remain open through the end of April, with a webinar set for April 24 to walk interested parties through the business model. The company's prospectus shows it is targeting a maximum raise of A$3 million.
The Stanley Brothers played a key role in researching the benefits of CBD and other non-THC cannabinoids before creating Charlotte's Web, a medicine named after Charlotte Figi, a young girl who lived with catastrophic epilepsy.
The seven brothers have selected Australia as the first market outside the US for their new company.
“Crowdfunding in Australia… builds a community of passionate believers who will help us pave the way for more sensible regulation.”
jesse stanley
Stanley said: "For nearly 10 years, Australians have been able to legally access medical cannabis. While getting a prescription is easy, selecting among hundreds of products is becoming a major challenge, even for the most experienced doctors and patients.
"A trusted brand is needed to cut through the clutter."
FoliuMed founder and CEO Oliver Zugel added: "Australia remains for us, together with Brazil, one of the most exciting opportunities we see in the near term.
"With solid regulations, a highly developed telehealth channel and a still comparatively low penetration rate, we see major growth ahead for a strong brand able to activate users beyond the current small base of early adopters and cannabis enthusiasts."
Separately, Stanley Brothers has secured a distribution agreement with Vitura to make its products available through the CanView platform, which covers 70% of pharmacies, and has also signed "over a dozen commercial agreements with the largest clinics and prescribers".
The company said early sales of its three flower products have surpassed expectations, with vapes, oils and edibles set to follow in the near future.
