 This is a randomized, double-blind, placebo-controlled, study of six IV infusions of ILV-094 administered to subjects with atopic dermatitis. Sixty subjects will be randomly assigned in a 2:1 ratio to one of the two treatments arms ILV-094 vs placebo. Forty patients will be enrolled in the ILV-094 treatment arm and 20 in the placebo-treatment arm, accordingly. A loading IV dose of 600 mg of ILV-094 or placebo will be given at baseline Day 0, followed by five additional IV doses of 300 mg of ILV-094 or placebo every two weeks Weeks 2, 4, 6, 8, and 10. We will continue to follow the patients every two weeks for an additional 10 weeks after the last IV dose 20 weeks post baseline. 