At least 70 potential vaccines against coronavirus are currently being developed in the world, and three of them are already undergoing clinical trials, Science Alert reported referring to the WHO.

“Chinese biotech company CanSino is already working on phase two of human trials for its experimental vaccine, while US-based biotech startups Inovio Pharmaceuticals and Moderna have both begun human testing,” the source noted.

There are also high hopes for vaccines of two American biotechnological startups - Moderna Inc. - a company founded by renowned businessman Noubar Afeyan - and Inovio Pharmaceuticals Inc. Both companies immediately switched to human testing. Moderna’s vaccine is being tested on 45 volunteers, one of whom is Ian Haydon, a communications specialist at the University of Washington.

A wide variety of organizations are developing vaccines today - from pharmaceutical giants and tiny biotech companies to academic centers and nonprofit groups.

“Large corporations like Johnson & Johnson and Sanofi are also sprinting to develop vaccines," the source added.

It takes about 10-15 years to launch new vaccines on the market, but now companies plan to reduce this period to a year and a half. However, there is no guarantee that an effective vaccine will be created at all.