Study in Healthy Volunteers and COPD Patients to Evaluate the Efficacy and Safety of Inhaled TV46017

Stage 1 Inclusion Criteria (healthy volunteers):

- The subject is a male or female 20 to 75 years of age, inclusive, weighing 50 to 80
kg with a body mass index (BMI) of less than 30 kg/m2. Note: Every effort should be
made to enroll approximately equal numbers of men and women in each group.

- The subject is in good health as determined by medical and psychiatric history,
physical examination, electrocardiogram (ECG), serum chemistry, hematology,
urinalysis, and serology.

- Other criteria apply, please contact the investigator for more information

Stage 2 Inclusion Criteria (COPD patients):

- Current or former cigarette smokers with a history of cigarette smoking of ≥10 pack
years at the SV (number of cigarette packs smoked per day multiplied by the number of
years smoked; eg, 2 packs/day for 3 years equals a 6 pack year history).

- Diagnosis of COPD as defined by the Global Initiative for Chronic Obstructive Lung
Disease guidelines.

- Male or female; 40 to 75 years of age, inclusive.

- Patient is free of any other medical conditions or concomitant treatment that could
interfere with study conduct, influence the interpretation of study
observations/results, or put the patient at increased risk during the study.

- Other criteria apply, please contact the investigator for more information

Stage 1 Exclusion Criteria (healthy volunteers):

- History or current evidence of a clinically significant or uncontrolled disease.

- Any disorder that may interfere with the absorption, distribution, metabolism or
excretion of study drugs.

- History of severe allergy to milk protein.

- Active smokers or former smokers who quit within 3 months of the first dose of study
drug. Former smokers with greater than five-pack years (ie, the equivalent of one
pack per day for five years) are also excluded.

- Other criteria apply, please contact the investigator for more information

Stage 2 Exclusion Criteria (COPD patients):

- Recent history of hospitalization due to an exacerbation of airway disease within 3
months.

- Need for increased treatments of COPD within 6 weeks prior to the SV.

- Occurrence of a COPD exacerbation, which is not resolved by 4 weeks or more prior to
the SV/informed consent. (Note: An exacerbation of COPD is defined as any worsening
of the patient's baseline COPD symptoms requiring any treatment other than rescue
albuterol or the patient's regular maintenance therapy. This includes requiring the
use of systemic corticosteroids, antibiotics, and/or emergency room visit or
hospitalization.)

- History of and/or current diagnosis of asthma.

- Known α1 antitrypsin deficiency, active lung infections (such as tuberculosis or
pneumonia), and lung cancer are absolute exclusionary conditions. A patient who, in
the opinion of the investigator, has any other significant respiratory condition in
addition to COPD should be excluded. Examples may include clinically significant
noncystic bronchiectasis, pulmonary hypertension, sarcoidosis, or interstitial lung
disease. Allergic rhinitis is not exclusionary.

- Other criteria apply, please contact the investigator for more information