Study to Evaluate Safety, Efficacy of PBI-4050 & Its Effect on Relevant Biomarkers in T2DM Patients With Metabolic Syndrome

Inclusion Criteria: 1. Subject is 18 years of age or older. 2. Subject has signed written informed consent. 3. Subject has a clinical diagnosis of T2DM with an HbA1c level between ≥ 7.5% and ≤ 10%. 4. Subject has been receiving stable antidiabetic therapy (with or without basal insulin) for a minimum of 3 months before the screening visit. 5. Subject is able and willing to self-monitor blood glucose level at home. 6. Subject has a body mass index (BMI) of ≥ 27 kg/m2 and ≤ 45 kg/m2. 7. Subject has metabolic syndrome, having at least 3 of the 5 risk factors. Exclusion Criteria: 1. Subject is using prandial insulin or pre-mixed insulin in addition to oral hypoglycaemic agents for blood glucose control. 2. Subject is taking basal insulin dose \> 1.0 U/kg/day. 3. Subject has recent or on-going infection requiring systemic treatment with an anti-infective agent within 30 days before screening. 4. Subject has a history of pancreatitis or diabetic ketoacidosis. 5. Subject has had at least one episode of severe hypoglycaemia in the past 12 months. 6. Subject has evidence of significant cardiovascular disease within 3 months before screening. 7. Subject has an estimated glomerular filtration rate (eGFR) \< 60 mL/min/1.73 m2. 8. Subject has uncontrolled hypertension. 9. Subject has a diagnosis of rheumatic or inflammatory disease; or other autoimmune or inflammatory disease. 10. Subject is concurrently taking and plans to routinely continue taking anti-inflammatory medications during the study. 11. Subject is currently using medications for the indication of (or at the doses indicated for) weight loss. 12. Subject has significantly elevated liver enzyme levels. 13. History of malignancy of any organ system, treated or untreated, within the past 5 years other than basal or squamous cell skin cancer. 14. Subject has a history of chronic alcohol or other substance abuse. 15. Subject has a history of an allergic reaction to PBI-4050 or any of its excipients.