BB-10901 in Treating Patients With Relapsed and/or Refractory Multiple Myeloma

DISEASE CHARACTERISTICS: * Histologically confirmed multiple myeloma * Relapsed or relapsed/refractory disease * Failed ≥ 1 prior therapy for multiple myeloma * Once the MTD is defined, only patients who have received at least 1 but equal or less than 6 prior chemotherapy regimens will be enrolled at this dose level * CD56-positive disease confirmed by immunohistochemistry or flow cytometry PATIENT CHARACTERISTICS: * ECOG (Zubrod) performance status 0-2 * Life expectancy ≥ 12 weeks * Platelet count ≥ 75,000/mm\^3 * Absolute neutrophil count \> 1,000/mm\^3 * Hemoglobin ≥ 8.5 g/dL * AST and ALT ≤ 3 times upper limit of normal (ULN) * Bilirubin ≤ 1.5 times ULN * Amylase and lipase within normal limits * Creatinine ≤ 2 mg/dL * Left ventricular ejection fraction ≥ lower limit of normal on MUGA or ECHO * Not pregnant or nursing * Negative pregnancy test * Fertile patients must use effective contraception * No peripheral neuropathy ≥ grade 3 or painful grade 2 neuropathy * No significant cardiac disease, including any of the following: * Myocardial infarction within the past 6 months * Unstable angina * Uncontrolled congestive heart failure * Uncontrolled hypertension (i.e., recurrent or persistent increases in systolic blood pressure ≥ 180 mm Hg or diastolic blood pressure ≥ 110 mm Hg) * Uncontrolled cardiac arrhythmias * Cardiac toxicity ≥ grade 3 after prior chemotherapy * No history of multiple sclerosis or other demyelinating disease * No hemorrhagic or isc…