A Study to Evaluate the Efficacy and Safety of Cyclo-Z in Patients With Obese Type 2 Diabetes

Inclusion Criteria: 1. Males or females aged 18 or older. 2. Subjects diagnosed with type 2 diabetes mellitus according to the American Diabetes Association (ADA) criteria. 3. Subjects treated with stable doses of insulin and/or other hypoglycemic agent(s) for type 2 diabetes mellitus for at least 2 months prior to randomization. 4. Subjects whose fasting blood glucose levels are reasonably stable for at least 2 months prior to randomization and during the 2-week screening period. 5. Subjects who have Hemoglobin A1c levels of 7.5 to 10.0 % at Screening. 6. Subjects whose BMI is 30 or above. 7. Subjects who can give written informed consent. Exclusion Criteria: 1. Subjects who have any DM-related end-organ damages. 2. Subjects who have a history of diabetic ketoacidosis or hyperosmolar non-ketotic coma. 3. Subjects who have any disease likely to limit life span and/or increase risks of interventions such as: * Carotid B-mode ultrasound test results indicating clinically significant stenosis in the common carotid arteries requiring intervention by angioplasty or resection. * Cancer treatment in the past 5 years, with the exception of cancers which have been cured, and carry a good prognosis. * Infectious disease: HIV positivity, active tuberculosis, or pneumonia. 4. Subjects who have any of the following conditions related to cardiovascular disease: * Hospitalization for the treatment of heart disease in the past 12 months. * New York Heart Association Functional Class \> 2. * Left Bundle branch block on ECG at Screening. * Third degree atrioventricular block on ECG at Screening. * Uncontrolled hypertension with average systolic blood pressure of \> 160 mmHg or diastolic blood pressure \> 95 mmHg at Screening and Baseline. * Pulse rate \> 95 beats per minute at Screening and Baseline. * Stroke or transient ischemic attack in the past 12 months. 5. Subjects who have any of the following conditions related to gastrointestinal disease: * Chronic hepatitis or cirrhosis. * Episode of alcoholic hepatitis or alcoholic pancreatitis in the past 2 months. * Inflammatory bowel disease requiring treatment in the past 12 months. * Significant abdominal surgery (e.g., gastrectomy, gastric bypass) in the past 2 months. 6. Subjects who have serum creatinine \> 1.5 mg/dL for male or \> 1.4 mg/dL for female. 7. Subjects who have chronic obstructive airway disease or asthma requiring daily therapy or home use oxygen. 8. Subjects who have hematocrit \< 36.0% for male or \< 33.0% for female. 9. Subjects who have any of the following conditions or behaviors likely to affect the conduct of the study: * Weight loss of \> 10% in the past 6 months. * Unable to walk without assisted device. * Major psychiatric disorder which would impede conduct of the research. * Excessive alcohol intake (i.e., more than 2 drinks/day). 10. Subjects who take any of the following medications: * Psychoactive agents such as monoamine oxidase inhibitors and antidepressants (e.g., lithium, Prozac, Zoloft, Serzone, Paxil, Effexor). * Any other medications that may pose harm to the subject. 11. Female subjects who have a positive serum pregnancy test at Screening, plan a pregnancy during study period, or are breast feeding. 12. Female subjects who don't meet any of the following criteria: * Surgically sterile (i.e., have had bilateral tubal ligation, hysterectomy, or bilateral oophorectomy) at least 6 months before randomization. * Post-menopausal for at least 12 months prior to Screening. * If sexually active, they should use oral contraceptives, double barrier contraception (e.g., condom with spermicide), intrauterine device, or other methods approved by the Sponsor.