Safety and Potential Efficacy of Human Mesenchymal Stem Cells in Non‐Cystic Fibrosis Bronchiectasis

A Phase 1 investigation will be performed to test the safety of two doses of bone-marrow
derived hMSCs (20,000,000 and 100,000,000) administered via peripheral intravenous infusion.

Group 1: 3 subjects will receive a single administration of allogeneic hMSCs: 20 x106 (20
million) cells delivered via peripheral intravenous infusion Group 2: 3 subjects will receive
a single administration of allogeneic hMSCs: 1 x108 (100 million) cells delivered via
peripheral intravenous infusion Interim safety analysis will be performed four weeks after
the 1st subject is enrolled in each cohort. Continued safety and tolerability with review of
adverse events (AEs) will be assessed at each visit. Efficacy parameters (pulmonary function
tests, lung diffusion capacity, lung volumes, 6-Minute Walk Test (6MWT), and dyspnea/Quality
of Life (QOL) questionnaires) will be assessed every 12 weeks until study completion.
Clinical laboratory tests to assess safety will be performed at every visit.

High Resolution Computed Tomography (HRCT) scan will be performed at the baseline visit (if
not done within three months prior to enrollment) and then at week 24.

Inclusion Criteria:

- Provide written informed consent,

- be between 30 and 87 years old at the time of signing the Informed Consent,

- weight over 45 and under 150 kg,

- have a clinical diagnosis of non-CF bronchiectasis prior to screening,

- Have had at least 2 exacerbations in the past year as documented by physician office
or hospital visits (Use of antibiotics of at least one time in the last year),

- Show a baseline FEV1 between 25% and 85% predicted and over or equal to 1 L and a
baseline diffusion capacity of lung for carbon monoxide (DLCO) over or equal to 30%
(corrected for hemoglobin but not alveolar volume),

- Have a normal Right Ventricular function, as documented by Doppler echo or right heart
catheterization,

- if a female of childbearing potential, agree to abide by contraception rules defined
below.

- Subjects may receive nondrug therapies including oxygen supplementation not greater
than 4 Liters per minute and pulmonary rehabilitation.

- Subjects may be on chronic macrolide or inhaled antibiotic treatment bronchiectasis

Exclusion Criteria:

- Have HRCT and or surgical lung biopsy results inconsistent with the diagnosis of
non-CF bronchiectasis. (Exclusion of emphysema and or diffuse parenchymal disease)

- be unable to perform any of the assessments required for endpoint analysis (report
safety or tolerability concerns, perform Pulmonary Function Tests (PFT) or HRCT,
undergo blood draws, read and respond to questionnaire

- If a female of childbearing potential, have a follicle stimulating hormone (FSH) under
25.8 IU/L

- be actively treated for an acute infectious exacerbation of bronchiectasis

- Have an active infection that is not treated

- Have had active infections occurring within a minimum of 4 weeks of study treatment

- Be currently on treatment for NTM infections

- Have had positive sputum cultures for nontuberculous mycobacterial (NTM) within the
past 6 months

- Have a history of drug or alcohol abuse within the past 24 months.

- Be currently receiving (or have received within four weeks of screening) experimental
agents for the treatment of bronchiectasis or have been enrolled in clinical trials
within the previous 30 days

- Be actively listed (or expect future listing) for transplant of any organ.

- Have clinically important abnormal screening laboratory values.

- Have a serious comorbid illness that, in the opinion of the investigator, may
compromise the safety or compliance of the patient or preclude successful completion
of the study.

- Have any other condition that, in the opinion of the investigator, may compromise the
safety or compliance of the patient or preclude successful completion of the study.

- Have known allergies to penicillin or streptomycin.

- Be an organ transplant recipient.

- Have a clinical history of malignancy within 5 years (i.e., patients with prior
malignancy must be disease free for 5 years), except curatively-treated basal cell
carcinoma of skin, squamous cell carcinoma of skin, or cervical carcinoma.

- Have a non-pulmonary condition that limits lifespan to less than 1 year.

- Be serum positive for HIV, hepatitis BsAg (surface agent reactive) or Viremic
hepatitis C.

- Have hypersensitivity to dimethyl sulfoxide (DMSO)

- Be unable to maintain saturated oxygen (SpO2) of more than 93% on room air at sea
level at rest) or an SpO2 of more than 88% on room air over 5,000 feet (1524 meters)
above sea level at rest.