Acute respiratory distress syndrome (ARDS) is a life-threatening condition characterized by poor pulmonary gas exchange, typically caused by some form of lung injury. Current treatment options are limited, often relying on oxygen treatments and mechanical ventilation, with severe cases requiring extracorporeal membrane oxygenation (ECMO) for supportive care. These treatment options can lead to significant complications and could be avoided if pulmonary gas transfer was improved to support blood oxygenation and removal of carbon dioxide while systemic treatments are provided to treat the underlying causes of edema and infection. The proposed development of a synthetic emulsion that can increase the efficiency of pulmonary gas exchange will support the treatment of ARDS to minimize complications and improve patient outcomes. Luna Labs USA, LLC will explore delivery of this solution intravenously and/or inhaled directly into the pulmonary space to enable rapid interaction with the alveolar-capillary membrane and support a rapid patient response.