CP101 for the Treatment of Ulcerative Colitis

Inclusion Criteria:

1. Signed informed consent

2. Male or female ≥18 years of age

3. Ulcerative colitis diagnosed by routine clinical, radiographic, endoscopic criteria

4. Active mild-moderate UC as determined by colonoscopy approximately 10-21 days priorto randomization into the study. (flexible sigmoidoscopy permitted if subject hashad a full colonoscopy within 12 months of baseline)

5. Mild-moderate UC, defined by a complete Mayo score to include: the sum of rectalbleeding, stool frequency, endoscopic findings and physician global assessmentsub-scores totaling ≥4 and ≤9, with each individual sub-group score ≥1.)

6. Disease at least 15 cm from anal verge

7. Stable dosing of concomitant medication

Exclusion Criteria:

1. Severe or refractory UC defined as Mayo score ≥10

2. Disease limited to distal proctitis

3. Fever > 38.3°C

4. Known history of Crohn's disease or indeterminate colitis

5. Inability to ingest capsules (e.g., severe nausea, vomiting, gastroparesis, gastricoutlet obstruction, dysphagia and/or history of chronic aspiration).

6. Known or suspected toxic megacolon and/or known small bowel ileus

7. Patients with active intestinal obstruction

8. Antibiotic use within the prior 1 month before randomization

9. Expected to receive antibiotics within 8 weeks of signing the Informed Consent Form (ICF) (i.e., for planned/anticipated procedure)

10. Known stool studies positive for ova and/or parasites or stool culture within the 30days before enrollment

11. Clostridioides difficile positive stool testing via GDH/EIA toxin testing atScreening Visit

12. Received an investigational drug or vaccine within 3 months before study entry

13. Received an FMT within the last 6 months

14. Patients with anatomic or medical contraindications to colonoscopy, including butnot necessarily limited to toxic megacolon, gastrointestinal (GI) fistulas,immediate postoperative status from abdominal surgery, severe coagulopathy, large orsymptomatic abdominal aortic aneurysm, or any patient where study physician deemspatient at significant risk of complications of colonoscopy

15. Patients with previous colectomy, ostomy, J-pouch, or previous intestinal surgery (excluding cholecystectomy, appendectomy)

16. Unable to complete appropriate washout periods/stop prior therapies, as defined inSection 5.3

17. Patients with known diagnosis primary or secondary immune deficiency e.g., IgAdeficiency, SCID, CGD

18. Known active malignancy except for basal cell skin cancer, squamous cell skin cancer

19. Concurrent intensive induction chemotherapy, radiotherapy, or biologic treatment foractive malignancy (patients on maintenance chemotherapy may only be enrolled afterconsultation with medical monitor)

20. Patients with any other significant medical condition that could confound orinterfere with the evaluation of safety, tolerability or prevent compliance with thestudy protocol at the discretion of the investigator