DRUG - President Biden is 'very open-minded' about psychedelics younger brother says

2023-06-29 12:54:19 ET

President Joe Biden is very "open-minded about" psychedelic medications, his youngest brother Frank Biden said during an interview on Wednesday, recalling a conversation the siblings had about the psychoactive substances.

"He is very open-minded," the younger Biden said during a call to "The Michael Smerconish Program" on SiriusXM . "Put it that way. I don’t want to speak; I’m talking brother-to-brother. Brother-to-brother," he added.

At the time, the host, Michael Smerconish, had just interviewed a reporter who delved into the rising popularity of psychedelics among powerful tech entrepreneurs and executives in a recent article on The Wall Street Journal .

Psychedelic substances such as psilocybin (magic mushrooms), MDMA (ecstasy), and lysergic acid diethylamide (LSD) are thought to create medicinal benefits in psychological conditions including addiction, depression, alcoholism, and post-traumatic stress disorder (PTSD).

The FDA has already issued breakthrough therapy designations for psilocybin and MDMA. Last week, the regulator issued a draft guidance outlining considerations for psychedelic research for the first time.

Psychedelic drug developers include: Bright Minds Bioscience ( DRUG ), Mind Medicine (MindMed) ( NASDAQ: MNMD ), Cybin Inc. ( NYSE: CYBN ), 180 Life Sciences Corp. ( ATNF ), COMPASS Pathways ( NASDAQ: CMPS ), Atai Life Sciences ( ATNF ), GH Research ( GHRS ), Seelos Therapeutics ( NASDAQ: SEEL ), Numinus Wellness ( OTCQX:NUMIF )

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