According to a statement, these vaccines should also allow for rapid adaptation should a pandemic strain emerge.

This is the first time the European Commission has used the pre-commercial public procurement model to advance products through clinical trials, ensuring they meet rigorous safety, quality and efficacy criteria, while supporting innovations that could stagnate without public intervention, the statement adds.

The funding will support vaccines designed to be easier to administer—through the nose, mouth, or skin patches—and that allow rapid increases in production in emergency situations.

The EU is committed to accelerating vaccine development and strengthening Europe's response capacity at scale, allowing new solutions to reach national vaccination programs more quickly.

The signed contracts will have a duration of 98 months (just over four years), covering everything from clinical development to marketing authorisation.