The announcement was made by AstraZeneca, the drugs firm behind the UK vaccine.
This is the latest major boost in the fight against coronavirus, with Britain on course to roll out a vaccine to people over the coming weeks.
The UK has placed orders for 100 million doses of the vaccine from the University of Oxford, which would be enough to vaccinate most of the country’s population.
It is expected to be rolled out in the coming weeks if the jab is approved.
The UK has also ordered 40 million doses of the vaccine from Pfizer and BioNTech, which has been shown to be 95 percent effective.
Health Secretary Matt Hancock has described the latest coronavirus vaccine breakthrough by AstraZeneca with Oxford University as “fantastic news”.
He told Sky News: “These figures show that the vaccine in the right dosage can be up to 90 percent effective.
“We’ve got 100 million doses on order and should all that go well, the bulk of the rollout will be in the new year.”
Sarah Gilbert, professor of vaccinology at the University of Oxford, said: “The announcement today takes us another step closer to the time when we can use vaccines to bring an end to the devastation caused by COVID-19.
“We will continue to work to provide the detailed information to regulators. It has been a privilege to be part of this multi-national effort which will reap benefits for the whole world.”
AstraZeneca chief executive Pascal Soriot, said: “Today marks an important milestone in our fight against the pandemic. This vaccine’s efficacy and safety confirm that it will be highly effective against Covid-19 and will have an immediate impact on this public health emergency.
“Furthermore, the vaccine’s simple supply chain and our no-profit pledge and commitment to broad, equitable and timely access means it will be affordable and globally available, supplying hundreds of millions of doses on approval.”
This is a breaking story. More to follow…