Study to Assess the Effects and Safety of ZGN-1061 in Overweight and Obese Participants With Type 2 Diabetes

Inclusion Criteria: Subjects must meet the following criteria to participate in this study: * Be between the ages of 18 and 70 years, inclusive. * Overweight or obese with a body mass index of at least 27 kg/m². * Have type 2 diabetes with HbA1c between 7% and 11%. * For subjects taking approved antidiabetes medications, the doses must be stable as determined by the study doctor. * For subjects who have had weight-loss surgery (example: gastric banding), the procedure must have occurred at least 1 year ago, and be verified with documentation or by a health professional associated with the surgery. Exclusion Criteria: Subjects cannot participate in this research study if they meet any of the following: * Have taken another study drug or study device within the past 6 months. * Are taking certain prescribed medications including narcotics or opiates. * Consistent recent use of insulin. * Have had recent major surgery or prolonged bed rest, or planning or likely to undergo any surgery during the research study. * Have a history of bleeding disorders or risk factors for excessive blood clotting. * Have difficulty giving blood. * Have a history of drug and/or alcohol abuse.