Inclusion Criteria:

• Patients between 40 and 75 years of age diagnosed with COPD. Female patients must be surgically sterilized, postmenopausal or using a double-barrier method of contraception.
• Body mass index (BMI) must be within the range of 18 to 32.

Exclusion Criteria:

• Participation in any clinical investigation with experimental drug therapy within four weeks prior to dosing or longer as required by local regulation.
• Donation or loss of 400 mL or more of blood within two months prior to dosing.
• Significant illness (other than respiratory) within two weeks prior to dosing.
• A past personal or close family (grandparents, parents and siblings) medical history of heart abnormalities, heart attacks, or heart disease, including irregular heartbeats and exercise-induced angina.
• Any medical condition that may interfere with exercise testing such as. arthritis
• History of clinically significant drug allergy or history of atopic allergy (asthma, urticaria, eczematous dermatitis).
• A known hypersensitivity to the study drug or drugs similar to the study drug.
• History of immunocompromise, including a positive HIV, Hepatitis B or C test result.
• History of drug or alcohol abuse within the 12 months prior to dosing
• Any condition that in the opinion of the investigator may compromise patient safety, interfere with evaluations, or preclude the completion of the trial.