The University of Oxford’s potential Covid-19 vaccine will be manufactured and distributed by pharmaceutical giant AstraZeneca on a not-for-profit basis.
The partnership will allow for rapid vaccination around the world if it proves to be effective.
Human trials of the vaccine developed by the University started on 23 April, with hundreds of people volunteering to take part in the study which received £20m ($25m) of UK government funding.
Regius Professor of Medicine at Oxford University Professor Sir John Bell told BBC Radio 4’s Today programme the partnership would be “major force in the struggle against pandemics” for the foreseeable future.
Sir John also said he hoped some results from a human trial of the vaccine would be available by the middle of June.
Health Secretary Matt Hancock said it was “hugely welcome news” that an agreement to scale up the vaccine had been reached.
