Chronic obstructive pulmonary disease (COPD) is a slow progressive disease comprising chronic bronchitis and emphysema that is caused largely by smoking. Despite anti-smoking campaigns, COPD is the fastest growing major disease in the U.S. and around the world. COPD is currently the fourth leading cause of death in the U.S. and is expected to be the third leading cause by 2020. The disease is largely managed with inhaled bronchodilators and corticosteroids to improve lung function and reduce the frequency of exacerbations. Longer-acting agents and combinations have proven successful for treating the majority of COPD patients, but the sicker and older segment of the COPD population requiring nebulizer delivery are limited to shorter-acting agents and/or long treatment times. Elevation Pharmaceuticals is focused on developing improved inhaled drug therapies for COPD patients with the highest treatment burden in order to significantly improve their standard of care.