Lung biopsies form the basis for the diagnosis of lung cancer. However, in a significant number of cases bronchoscopic lung biopsies fail to provide useful information, especially in diffuse lung disease, so more aggressive procedures are required. Success could be improved using a guided electronic biopsy based on multisine electrical impedance spectroscopy (EIS), a technique which is evaluated in this paper. The theoretical basis of the measurement method and the instrument developed are described, characterized and calibrated while the performance of the instrument is assessed by experiments to evaluate the noise and nonlinear source of errors from measurements on phantoms. Additional preliminary results are included to demonstrate that it is both feasible and safe to monitor in vivo human lung tissue electrical bioimpedance (EBI) during the bronchoscopy procedure. The time required for performing bronchoscopy is not extended because the bioimpedance measurements, present no complications, tolerance problems or side effects among any of the patients measured.