Inclusion Criteria:

• Age eligible for study:  40 to 80 years.
• Gender eligible for study:  All.
• Subjects with moderate-to-severe COPD.
• Subject must have a post-bronchodilator FEV1/FVC ratio of less than 0.7.
• Subject must have a post-bronchodilator FEV1percent predicted value < 50%.
• Subject must have a RV/TLC ratio of > 40%.
• Subject must be an ex-smoker, with a cigarette smoking history of ≥ 10 pack-years.
• Subject must have abstained from nicotine products for at least six months prior to enrollment in the study.
• Subject must have a calculated creatinine clearance of greater than 30 ml/min.
• Subject must be available for all specified assessments at the study site through the completion of the study.
• Subject must provide written ICF and authorization for use of and disclosure of PHI. 
• Subjects must have oxyhemoglobin saturation on room air at rest equal or greater than 88% without oxygen.
• Subjects must speak, read and understand English.
• Subjects must be reasonably able to return for multiple follow-up visits.

Exclusion Criteria:

• Patients with clinically significant illness with manifestations of significant organ dysfunction which in the judgment of the PI or co-investigator would render the study subject unlikely to tolerate the infusion or complete the study.
• Subject has been diagnosed with a pulmonary disease other than COPD (e.g., asthma, pulmonary, fibrosis, sarcoidosis, pulmonary hypertension, bronchiolitis, interstitial lung disease) Subject has been diagnosed with α1-Antitrypsin deficiency.
• Subject has a body mass index greater than 42 kg/m^2.
• Subject has or had an active infection requiring systemic antibiotics within 12 weeks on enrollment in the study.
• Subject has had exacerbation of COPD requiring hospitalization within 12 weeks of enrollment in the study.
• Subject has initiated pulmonary rehabilitation within 12 weeks of enrollment in the study.
• Subject uses or used prednisone (or equivalent dose of another corticosteroid) within 12 weeks of enrollment in the study.
• Subject has evidence or history of malignancy.
• Subject has evidence or history of autoimmune disorders independent of COPD Subject is pregnant or breast-feeding.
• Subject has evidence of liver dysfunction manifested as alkaline phosphatase greater than 345 u/L, total bilirubin greater than 1.65 mg/dL, ALT greater than 275 units/L.
• Subject has evidence of significant and unstable cardiac dysfunction; e.g. acute myocardial infarction and hypertension with blood pressure over 180/120.
• Subjects with pulmonary lobectomy or lung volume reduction surgery or lung transplantation. Subjects with clinically significant bronchiectasis.
• Subject received an experimental therapy (drug or biologic for any indication within 12 months of the study enrollment.
• Subject is unable to complete all the testing required for the study.
• Subjects who are on immunosuppressive medications.
• Subjects that are unwilling to stop taking prescription or over the counter pain medication for 7 days prior to any visit.
• Subjects with a history of bleeding disorders, anticoagulation therapy that cannot be stopped as prior to injection.
• Organ transplant recipient.
• Medical condition that limits expectant lifespan to < 1 year.
• Subject has a history of HIV, Hepatitis B and/or Hepatitis C or serum positive for HIV, hepatitis HBsAg, or Hepatitis C.
• A history of drug or alcohol abuse within the past 24 months.