The correct term is fecal transplant – it involves liquidizing the stool of a healthy donor, and then injecting it into the patient’s large intestine. This can recolonize the healthy bacteria in your gut, if it has been lost due to the overuse of antibiotics. So far it has had great success, but there are regulatory hurdles to overcome. The FDA only approves drugs, devices, vaccines and tissues. Feces aren’t in their brief, and without the permission of the FDA, clinical trials cannot proceed.
The condition it has fixed (90% of the time) is a Clostridium difficule infection that results in constant diarrhea because it has taken over the gut and good bacteria are unable to re-establish themselves.
The full story is at Scientific American.