An Efficacy and Safety Profile of Inhaled TV48108 in Healthy Volunteers and COPD Patients

Inclusion Criteria: Stage 1 (Healthy Volunteers) * 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/m\^2. * 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 (Chronic Obstructive Lung Disease (COPD) patients) * Male or female; 40 to 75 years of age, inclusive with a minimum body weight of 40 kg * Current or former cigarette smokers with a history of cigarette smoking of ≥10 pack years at the screening visit * Diagnosis of COPD as defined by the Global Initiative for Chronic Obstructive Lung Disease guidelines. * Other criteria apply, please contact the investigator for more information Exclusion Criteria: Stage 1 (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 (Chronic Obstructive Lung Disease (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 screening visit * 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 * Other criteria apply, please contact the investigator for more information