This study is designed to evaluate the safety, tolerability and pharmacokinetics (PK) of two doses of AZD1446 or placebo in subjects when given for 4 weeks.

Inclusion Criteria:

• Male or non-fertile female, elderly Subjects, aged ≥65 to ≤85
• Body mass index (BMI) between 18 and 30 kg/m2
• Clinically normal findings on physical examination

Exclusion Criteria:

• History of any clinically significant disease or disorder
• History of severe allergy/hypersensitivity reactions including severe food allergy as judged by the investigator.