THE Covid-19 vaccine being developed at the University of Oxford is 'safe and induces an immune reaction' - findings of the first phases of the study suggest.

Here's everything we know so far.

What have the University of Oxford said?

The findings on the Oxford vaccine trial were published in medical journal - The Lancet.

Professor Sarah Gilbert, of the University of Oxford, said: “There is still much work to be done before we can confirm if our vaccine will help manage the Covid-19 pandemic, but these early results hold promise.

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“As well as continuing to test our vaccine in phase-three trials, we need to learn more about the virus – for example, we still do not know how strong an immune response we need to provoke to effectively protect against Sars-Cov-2 infection.

“If our vaccine is effective, it is a promising option as these types of vaccine can be manufactured at large scale.

“A successful vaccine against Sars-Cov-2 could be used to prevent infection, disease and death in the whole population, with high-risk populations such as hospital workers and older adults prioritised to receive vaccination.”

What has the reaction been to the news?

Business Secretary Alok Sharma said: “Today’s results are extremely encouraging, taking us one step closer to finding a successful vaccine to protect millions in the UK and across the world.

“Backed by £84 million Government investment for the vaccine’s development and manufacture, the agility and speed with which the University of Oxford have been working is outstanding.

“I am very proud of what they have achieved so far.”

Kate Bingham, chair of the UK's Vaccine Taskforce added: “The UK is fortunate to have such outstanding academic innovators working alongside the highly experienced global team at AstraZeneca.

“This partnership is working at exceptional speed to demonstrate the safety and clinical effectiveness of the chadox vaccine in protecting people against COVID-19 infection.”