A Study to Investigate Multiple Ascending Doses of AZD5004 in Healthy Japanese Participants and Participants with Type 2 Diabetes Mellitus

This Phase I study will gather important information on the safety, tolerability, pharmacokinetics and pharmacodynamics of AZD5004 in both healthy Japanese participants and Japanese participants with T2DM.

This is a placebo-controlled study to assess the safety, efficacy, tolerability, and PK of single and repeated dosing of AZD5004 compared with placebo. Participants who are eligible according to the inclusion/exclusion criteria will be randomized to receive AZD5004 or matching placebo. The study will comprise: 1. A Screening Period of maximum 28 days. 2. A Treatment Period of 1 day(Part A) or 105 days (Part B). 3. A final Follow‑up Visit approximately 7 days(Part A) or 14 days(Part B) after the last study intervention administration.