In the latest Data Management Studio version, you should be able to create a connection to Sybase in the Home tab using New Data Connection > ODBC Connection when you right click on Data Connections.
A driver for Sybase, and another one for Sybase IQ are provided, both are Wire drivers: they can talk directly to the database and don't need a client installed.
To configure the connection to Sybase, you will need the name (or IP address) of the machine where the database is installed and the port. Network Address is the concatenation of these two information, separated by a comma, for example: mysybasemachine.foo.com,5006
Hope this helps.