Safety and Efficacy Study of DSC127 in Treating Subjects With Diabetic Ulcers

Inclusion Criteria: * Have at least one chronic non-healing Wagner Grade 1 or Grade 2 plantar neuropathic diabetic ulcer between 1.0-6.0 cm2 on the midfoot or forefoot, including the toes but excluding the heel. * ABI greater than 0.7 for neuroischemic or greater than 0.8 for neuropathic DU * TcPO2 greater than 40 mm Hg or great toe systolic pressure greater than 50 mmHg * Type I or Type II diabetes under metabolic control * Female subjects must have a negative pregnancy test and be willing to use acceptable method of birth control for the duration of the study Exclusion Criteria: * Exposure to any investigational product within the last 30 days, or have known hypersensitivity to any of the study medication components * Chronic renal insufficiency and/or chronic liver dysfunction * Resting blood pressure (at the time of the initial visit of the Screening Period) which exceeds 160 systolic and/or 90 diastolic mmHg on 3 consecutive readings at least 15 minutes apart * Malignancy of any kind * Receiving hemodialysis or CAPD * Current history of drug abuse, and/or known to be HIV positive * Prior radiation therapy of the foot under study * Current use of corticosteroids (within past 8 weeks), immunosuppressants (within past 8 weeks), or use of a biologic agent to include growth factors and skin equivalents (Regranex, Apligraft, or Dermagraft) in the past 90 days * Ulcer is deemed clinically infected and requires topical antimicrobials or agents known to affect wound healing, or the subject has been taking systemic antibiotics for more than 7 days for any reason * Sickle-cell anemia, Raynaud's or other peripheral vascular disease * Wagner Grade 3 or higher DU, deep abscess or infection of the joint or tendon, or gangrene or osteomyelitis * An EKG with a marked baseline prolongation of QT/QTc interval