Valneva SE (VALN) said Wednesday it has ended its licensing deal with Serum Institute of India for Valneva's chikungunya vaccine.

The company said this decision is meant to increase vaccine distribution in areas at high-risk of chikungunya, in line with Valneva's EU-supported funding agreement with the Coalition for Epidemic Preparedness Innovations, or CEPI.

Valneva plans to fully control the supply chain and commercialization of the vaccine to enable quick access in high-risk regions.

Previously, the company's single-dose vaccine for chikungunya, Ixchiq, was authorized by the U.S. Food and Drug Administration in November 2023 but suspended in August, due to safety concerns.

Shares of Valneva rose past 4% in recent trading.

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