British drugs group AstraZeneca and the University of Oxford said on Monday they will seek regulatory approval for their coronavirus vaccine after "effective" trials, in the latest potential boost to curbing the global outbreak.

The partners announced that while the vaccine showed an average 70-percent effectiveness, the level jumped to 90 percent depending on dosage. 

Manufacturers Pfizer/BioNTech and Moderna last week said trials of their vaccines showed effectiveness above 90 percent in what was hailed as a breakthrough in stopping the spread of the virus.

Britain's Prime Minister Boris Johnson called the announcement "incredibly exciting". 

"There are still further safety checks ahead but these are fantastic results," he said.

Despite varying outcomes, AstraZeneca chief executive Pascal Soriot insisted his firm's vaccine would have an "immediate impact". 

"AstraZeneca will now immediately prepare regulatory submission of the data to authorities around the world that have a framework in place for conditional or early approval," he said.

The firm said it would look to develop up to three billion doses of the vaccine in 2021 after passing regulatory hurdles.

Pfizer/BioNTech's vaccine has to be stored at -70 degrees Celsius (-94 degrees Fahrenheit) - much colder than temperatures of a standard freezer.

That has prompted questions about distribution and storage, as well as higher costs, particularly for lower-income countries./MSN