A Placebo Controlled Safety and Efficacy Study of INT131 Besylate in Type 2 Diabetes, With an Active Comparator

Inclusion Criteria: * Diagnosis of Type 2 diabetes and on either sulfonylurea monotherapy or sulfonylurea plus metformin combination therapy for at least 3 months at stable dose * Males and Females (of non-childbearing potential or who are using dual barrier methods of contraception) between 30 and 75 years of age * HbA1c must be ≥7.5% and ≤10% at screening * Fasting Plasma Glucose must be \<240 mg/dL at screening Exclusion Criteria: * History of type 1 diabetes * History of diabetic ketoacidosis * NYHA Class III or IV cardiac status or hospitalization for congestive heart failure within 6 weeks prior to Visit 1 * Treatment with any non-peroxisome proliferator-activated receptor (non-PPAR) antidiabetic agent, investigational or approved, other than metformin or permitted sulfonylureas within 3 months prior to screening * Treatment with rosiglitazone, pioglitazone, or any PPAR investigational antidiabetic agent within 6 month prior to screening * Body mass index \>45 kg/m2 * Fasting triglycerides \>500 mg/dL * Uncontrolled hypertension (sitting systolic blood pressure \>160 mmHg and/or sitting diastolic blood pressure \>100 mmHg * Presence of diabetic complications, which in the opinion of the investigator, would complicate the subject's participation in the study (i.e., require initiation of new medication)