Move over ayahuasca – there's a new mind-altering plant attracting attention from the US's pharmaceutical giants.

The substance at the centre of the frenzy is iboga, a bitter root bark harvested from a rainforest shrub that grows in the Central African nation of Gabon.

For generations, it has been used in sacred Bwiti spiritual ceremonies, where participants consume the bark during all-night rituals.

Many followers believe the plant can help them confront trauma, gain insight into their lives and overcome personal struggles.

But now, drug companies are becoming increasingly interested in one of its key compounds, ibogaine.

Early research suggests the ancient remedy could have potential as a treatment for addiction and certain mental health conditions, with some studies indicating it could help reduce cravings for drugs and alcohol.

But the growing interest has sparked alarm in Gabon, where local people are concerned the plant could 'disappear' if demand surges and wild populations are overharvested.

'What is happening in Gabon is in 50 years, we estimate that 85 to 90 per cent of the iboga from the wild area has disappeared and has been poached,' Yann Guignon, president of conservation organisation Blessings of the Forest, told the Ibogaine Inquiries podcast.

Traditionally, the people of Gabon could harvest iboga from the surrounding forest for use in ceremonies.

The plant is most commonly consumed by chewing or swallowing shavings of the root bark. Users often report entering a dream-like state that can last for more than 24 hours, with vivid memories and intense introspection.

But accessing iboga is becoming much more difficult.

'It's starting to become big business and iboga is starting to disappear in the wild,' Mr Guignon said. 'It's becoming a problem for traditional practitioners.'

He warned there is 'huge trafficking of iboga to the West', where people pay more for the plant compared to local Gabonese people.

US pharmaceutical companies are now eager to turn the ancient remedy into a modern medicine.

Several firms are investigating ibogaine and related compounds as potential therapies that could one day be approved by regulators.

Some small studies have found that ibogaine can ease withdrawal symptoms and reduce cravings among people dependent on opioids, alcohol and other substances.

Researchers are also exploring whether it could help treat depression, anxiety and post-traumatic stress disorder.

In a 2024 study by Stanford Medicine, veterans with traumatic brain injuries reported dramatic reductions in symptoms of PTSD, depression and anxiety after undergoing ibogaine treatment, although scientists stressed that larger controlled trials are still needed.

The rush has prompted comparisons with ayahuasca, the Amazonian psychoactive brew that went from an Indigenous ritual to a global wellness phenomenon. 

The plant has also attracted a growing celebrity following.

Former boxing champion Mike Tyson has spoken publicly about his experiences with psychedelics and has repeatedly praised ibogaine, describing it as a life-changing experience that helped him confront personal struggles.

And former stockbroker Jordan Belfort, whose life inspired The Wolf of Wall Street, has also discussed seeking ibogaine treatment after struggling to come off prescription medication.

However, researchers caution that ibogaine is not without risks. The powerful psychedelic can cause dangerous heart rhythm disturbances in some people and remains illegal or tightly regulated in many countries. 

Gabon is now seeking ways to protect both the species and the traditions surrounding it. 

Supporters argue that any medical breakthroughs derived from iboga should benefit the communities that have long used the plant.