Bronchopulmonary dysplasia (BPD) was described about 50 years ago as a fibroproliferative chronic lung disease in consequence of mechanical ventilation/oxygen exposure in premature infants with respiratory distress syndrome (old BPD). Surfactant therapy with increased survival of extremely premature infants identified a new type of an immaturity-related multisystem disorder that is characterized by a stop/simplification of alveolarisation and lung capillary development (new BPD). To date, mainly symptomatic treatment exists. However, growth factors and stem cell therapy have recently been tested with some success in animal experiments. Survivors of new BPD may have problems in adult life concerning lung and cardiovascular function, growth and neurosensory and/or motor development.