People across the globe are waiting for a cure that unpauses their lives that have been put on hold as the deadly COVID-19 continues to spread at an alarming rate. As per the World Health Organization, currently, there are 70 coronavirus vaccines in development globally, with three candidates already being tested in human trials.
The one that has progressed the furthest is in the clinical process. It is an experimental vaccine developed by Hong Kong-listed CanSino Biologics Inc. and the Beijing Institute of Biotechnology, which is in phase 2. The other two vaccines that are being tested are treatments developed separately by U.S. drugmakers Moderna Inc. and Inovio Pharmaceuticals Inc.
Drugmakers are hoping to shorten the time it takes for the vaccine to hit markets given the pressing urgency that has gripped the world. The drug industry hopes to compresses the time that usually amounts to about 10 to 15 years -- to within the next year.
Both small and big drugmakers have taken up the cause of developing a vaccine that would be most effective against the highly infectious virus. Pharmaceutical giants like Pfizer Inc. and Sanofi have vaccine candidates in the preclinical stages, according to the WHO document.
CanSino said last month it received Chinese regulatory approval to start human trials of its vaccine. Cambridge, Massachusetts-based Moderna -- which has never put out a product -- received regulatory approval to move quickly to human trials in March, skipping the years of animal trials that are the norm in developing vaccines. Inovio began its human trials last week.