The world is moving closer to a COVID-19 vaccine which could be in place by 2021, according to Health Minister Greg Hunt.

The Sunday Telegraph reports the federal government is in the final stages of negotiations with a manufacturer to produce Oxford University’s COVID-19 vaccine, which is considered a very promising candidate.

The Oxford University vaccine candidate is currently in the final stages of its phase three trial and is expected to release its results next month. Reports out of the UK have indicate the trial has been a success, although this has yet to be officially confirmed.

Mr Hunt told Sky News there is a “ray of hope” that a vaccine can be delivered by 2021. “We are well placed in our negotiations and for the first time, I feel cautiously but genuinely optimistic about the prospect of a vaccine,” Mr Hunt said. “I have been very cautious in the past about the prospect of a vaccine, I am now on the basis of our best medical advice, genuinely more optimistic.

“I think the world is moving closer to a vaccine, it’s unlikely it will be just one, it is likely to be many, there are lead Australian candidates as well as international candidates.” The World Health Organisation report claims a total of 168 candidate vaccines are being worked on around the world.