Safety of Intravenous Infusion of Human Placenta-Derived Cells (PDA001) for the Treatment of Adults With Stage II or III Pulmonary Sarcoidosis

Inclusion Criteria: 1. Male or female subjects 18 years to 75 years of age at the time of signing the informed consent document 2. Understand and voluntarily sign an informed consent document prior to any study-related assessments/procedures are conducted 3. Must be able to adhere to the study visit schedule and other protocol requirements 4. Weight must be ≥ 50 kg 5. A female of childbearing potential (FCBP) must have a negative serum or urine pregnancy test within 24 hours prior to treatment with study therapy. In addition, sexually active FCBP must agree to use two of the following adequate forms of contraception methods simultaneously such as: oral, injectable or implantable hormonal contraception; tubal ligation; intrauterine device; barrier contraceptive with spermicide; or vasectomized partner for the duration of the study and the follow-up period. Males (including those who have had a vasectomy) must agree to use barrier contraception (latex condoms) when engaging in reproductive sexual activity with FCBP for the duration of the study and the follow-up period 6. Diagnosis of sarcoidosis as evidenced by parenchymal disease on chest radiograph (Stage II or III), as well as histologic confirmation of granulomatous inflammation and disease duration of ≥ 1 year 7. Refractory to one or more of the following; methotrexate, immunosuppressants or cytotoxic agents 8. Forced vital capacity (FVC) of ≥ 45% and ≤ 80% of predicted normal value at screening 9. Must be on a stable dose of prednisone, methotrexate, and/or azathioprine for pulmonary Sarcoidosis for 4 weeks prior to infusion of the IP Exclusion Criteria: 1. Any significant medical condition, laboratory abnormality, or psychiatric illness that would prevent the subject from participating in the study 2. Any condition that confounds the ability to interpret data from the study 3. Any condition including the presence of laboratory abnormalities, which places the subject at unacceptable risk if he/she were to participate in the study 4. Subjects with Stage I or Stage IV sarcoidosis 5. Subjects with cutaneous sarcoidosis only 6. Subjects with neurosarcoidosis or (clinically apparent) cardiac sarcoidosis 7. Lung disease, other than sarcoid related, such as asthma, chronic obstructive pulmonary disease (COPD), interstitial lung disease (ILD) 8. History of listeriosis, coccidiomycosis, histoplasmosis, blastomycosis, treated or untreated tuberculosis or exposure to individuals with tuberculosis 9. History of pulmonary emboli or deep vein thrombus 10. Active smoker or previous smoker \> 10 pack years (PY). Previous smokers must have discontinued smoking for at least 1 year 11. Morbidly obese \[Body Mass Index (BMI)\] \> 35 at screening) 12. Inability to perform 6 Minute Walk Test (6MWT) or Pulmonary Function Test (PFT) maneuvers 13. Sickle cell disease (Hemoglobin SS, Hemoglobin SC, and sickle cell-beta thalassemia) 14. Treatment at any time with B cell depleting therapies 15. Any biologic anti-tumor necrosis factor (anti-TNF) therapy within the previous year 16. Active infection requiring treatment within 30 days prior to screening 17. Pregnant or lactating females 18. Aspartate transaminase (AST), alanine aminotransferase (ALT) or creatine phosphokinase (CPK) \> 2 x the upper limit of normal at screening 19. Active infection with hepatitis B or hepatitis C 20. Known infection with human immunodeficiency virus (HIV) 21. Creatinine level \> 1.5 times the upper limit of normal 22. Platelet count \< 100,000/µL (\< 100 x 109/L) 23. White blood cell count \< 3,000/cu mm (\< 3.0 x 109/L) or \>20,000/cu mm (\> 20 x 109/L) 24. Organic heart disease (e.g., congestive heart failure, cor pulmonale), myocardial infarction within six months prior to screening 25. Clinically significant findings on electrocardiogram (ECG) at screening (eg, arrhythmia) 26. History of other malignancies within 5 years (except basal cell carcinoma of the skin that is surgically cured, remote history of cancer now considered cured or positive Pap smear with subsequent negative follow-up) 27. Documented prior history of neurological disease or evidence of ongoing neurological disease 28. Known allergy to bovine or porcine products 29. Subject has received an investigational agent (an agent or device not approved by Federal Drug Administration (FDA) for marketed use in any indication) within 90 days (or 5 half-lives, whichever is longer) prior to treatment with investigational product (IP) 30. Subject who has received previous cell therapy 31. Subject is expecting to have elective surgery within 12 weeks prior to or post dosing with IP if the surgery would be expected to confound evaluation of outcome endpoints