A Study of the Safety and Pharmacokinetics of an Anti-Inflammatory Therapeutic Antibody (MABp1) in Patients With Type 2 Diabetes

Inclusion Criteria: * American Diabetes Association (ADA) diagnostic criteria for Type 2 Diabetes (T2D) * HbA1c \>7.0% and ≤ 10% * Current T2D duration \> 3 months at Screening * T2D and other diseases must be stable. Stable disease is defined as disease which did not require a change in medication or dosing level on 4 or more consecutive days or 7 days in total within 28 days prior to Day 0. * Age ≥ 18 and ≤ 70 at Screening * BMI ≥ 23 and ≤ 40 kg/m2 * For female patients of child-bearing age, a negative serum pregnancy test. For patients with reproductive potential, a willingness to utilize adequate contraception (oral contraception plus a mechanical barrier) and not become pregnant (or have their partner\[s\] become pregnant) during the study * Agrees not to change diet and exercise regimen during the trial * Signed and dated Ethics Committee (EC) approved informed consent before any protocol-specific screening procedures are performed Exclusion Criteria: * Use of the following medications: * Daily use of steroids or aspirin ≥ 700 mg per week * Immunosuppressive treatment * Thiazolidinediones * Concomitant treatment with any other therapeutic antibody, or treatment with any biologic agent that blocks the IL-1 or TNFα signaling pathway * Change in medication for diabetes within 28 days prior to Day 0, defined as a change in dosing level on 4 or more consecutive days or 7 days in total * Hemoglobin \<10.0 g/dL, WBC \<3.0 x 103/mm3 , platelet count \<125 x 103/mm3, creatinine \> 1.5mg/dL, AST/ALT \>2 x ULN, alkaline phosphatase \>2 x ULN * Abnormal, untreated T3, T4, thyroglobulin, or TSH levels or history of Grave's disease * Known HIV antibody, hepatitis B surface antigen and/or hepatitis C antibody * History of malignancy within 5 years prior to study entry other than carcinoma in situ of the cervix, or adequately treated, nonmetastatic squamous or basal cell carcinoma of the skin * History of severe allergic or anaphylactic reactions to humanized or murine monoclonal antibodies * History of tuberculosis, positive PPD test, active atopic disease requiring medication, or asthma * Infectious disease: * CRP \>30 mg/L, fever, or infection requiring treatment with antibiotics within 3 weeks prior to Screening * History of recurrent infection or predisposition to infection * Active leg or foot ulcer * Immunodeficiency * Female patients who are pregnant, planning to become pregnant during the course of the study, or breast-feeding * Receipt of a live (attenuated) vaccine within 3 months prior to Screening * Major surgery within 28 days prior to Day 0 * Participation in an investigational drug or device trial within 30 days prior to Screening