Korean pharmaceutical company, Dong-A Pharmaceutical Co, won an international arbitration case brought by a U.S. biotech venture, alleging that Dong-A breached the terms of a patent and technology license agreement that covered an experimental cancer vaccine therapy.

Dong-A counterclaimed for termination of the license agreement. In April 2007, the matter was brought before three arbitrators appointed by the International Centre of Dispute Resolution of the American Arbitration Association. On August 25, 2008, the parties entered into an Agreement and Mutual Release, by which the claimant agreed to submit a consent award to

the Tribunal terminating the claim. The Tribunal issued the final award on October 15, 2008, terminating the claim against Dong-A with prejudice and declaring the license agreement terminated as well, relieving Dong-A of any further responsibility to the claimant under that agreement.