Primary Objectives:
* Evaluate the safety and tolerability of IGN523 administered weekly
* Determine the MTD and dose limiting toxicity (DLT) of IGN523 when administered weekly during the DLT Evaluation Period
* Identify a recommended Phase 2 dose (RP2D) of IGN523 on the basis of safety, PK, and PD data
Secondary Objectives:
* Assess the incidence of antibody formation to IGN523
* Characterize the PK of IGN523 in subjects with relapsed or refractory AML
* Perform a preliminary assessment of the anti-leukemic activity of IGN523 in subjects with relapsed or refractory AML
* Perform a preliminary assessment of biologic markers that might predict IGN523 anti-leukemic activity
Estimated Enrollment: 50 Study Start Date: February 2014 Estimated Study Completion Date: March 2016 Estimated Primary Completion Date: September 2015 (Final data collection for primary outcome measure)