Schematic diagram of bronchopulmonary dysplasia (BPD) pathogenesis, with the main features of the disease in the preterm lung. Microphotographs show improvements in an experimental animal model (60% hyperoxia-induced BPD in rat pups) after administering extracellular vesicles (EVs). Representative lung sections from hyperoxia-induced BPD (top right), and EV-treated animals (bottom right), showing effects of hyperoxia and EVs on alveolarization (upper side of microphotographs; stained with hematoxylin and eosin, scale bars 150 µm) and vessels less than 100 µm in diameter (lower side of the microphotographs; stained with anti-α-smooth muscle actin antibodies, scale bars 23.8 µm). Hyperoxia-induced changes in alveolarization (lower total number of alveoli; larger alveolar volume) and vascularization (increased medial thickness index) are minimized by the intratracheal administration of MSC-EVs.