China's Sinovac Biotech is starting Phase III trials of its potential coronavirus vaccine in Brazil, '' said on Monday, becoming among three companies to transfer to the late stages at the race to develop an inoculation against the disorder.

It follows a fast-track approval for the trials by Brazilian labs last week.

Sinovac stated the research, which will be finished in partnership with Brazilian medicine manufacturer the Instituto Butantan, could recruit almost 9,000 healthcare professionals in COVID-19 specialised facilities and begin this month.

Moderna also plans to start its own late stage trial this month.

Sinovac pioneered the development of the vaccine candidate in late January and now is preparing a coronavirus vaccine plant, which it expects will be ready this year and capable of earning as much as 100 million shots annually.

Phase I and Phase II trials typically test the safety of a drug before it enters Phase III trials which examine its efficacy.

Even the World Health Organization (WHO) says there are 19 vaccine trials in clinical investigation and countless hundreds being developed and tested around the world to block the COVID-19 pandemic, that has killed hundreds of thousands of people and ravaged the global market.

No COVID-19 vaccine has been approved for commercial use. A Massachusetts Institute of Technology analysis this past year found that roughly one in three vaccines in the first stage of testing later gains consent.