Study of Liposomal Annamycin in Patients With Refractory or Relapsed Acute Lymphocytic Leukemia

Inclusion Criteria: * Diagnosis of refractory or relapsed ALL (acute lymphocytic leukemia) * Age greater than or equal to 15 years * No chemotherapy, radiation, or major surgery within 2 weeks prior to first dose of study drug and recovered from toxic side effects of that therapy, unless treatment is indicated due to progressive disease. * No investigational therapy within 4 weeks of first dose of study drug * ECOG performance status (PS) 0 to 2. * Adequate liver function * Adequate renal function * Signed informed consent Exclusion Criteria: * Concommitant therapy that includes other chemotherapy that is or may be active against ALL (except central nervous system \[CNS\] therapy) * Any condition which in the opinion of the investigator, places the subject at unacceptable risk if he/she were to participate in the study. * Cardiac ejection fraction less than 40% * Clinically relevant serious co-morbid medical conditions. * Pregnant, lactating or not using adequate contraception. * Known allergy to doxorubicin or anthracyclines.