The main purpose of this study is to assess if different dose levels of Brenipatide are safe and work the way they are intended to work in participants with moderate-to-severe Chronic Obstructive Pulmonary Disease (COPD), when compared with placebo. The study will last approximately one year.
Current or former smokers with a smoking history of greater than or equal to (≥) 10 pack-years
Moderate-to-severe COPD (post-Bronchodilator (BD) Forced Expiratory Volume in 1 Second (FEV₁)/forced vital capacity (FVC) less than (<) 70 percent (%)
Modified Medical Research Council Dyspnea Scale (mMRC-DS) grade ≥2
Exacerbation history of ≥2 moderate or ≥1 severe exacerbations within the year prior to inclusion.
Have a known pre-existing, clinically important lung condition other than COPD.
Have a current or recent acute, active infection before screening and up to randomization.