Several research centres around the world are believed to be close to testing new drugs in the battle against Covid-19 but only the ones in England and Germany have stated they are ready to begin Phase 0 clinical trials on humans.
"It's worth remembering that there are 12 trials underway in America and China already on other vaccines".
The Oxford University project, a collaboration between the university's Jenner Institute and Oxford Vaccine Group, opened recruitment for the clinical trial - for healthy adults between 18 and 55 - at the end of March, having begun research on a vaccine against the coronavirus-borne disease COVID-19 in February.
Speaking at the daily press briefing on Tuesday, Mr Hancock praised the "rapid progress" being made into vaccines by scientists at Oxford and Imperial College London.
"There are not now any licensed vaccines or specific treatments for COVID-19 but vaccines are the most effective way of controlling outbreaks and the worldwide community has stepped up efforts towards developing one", said Professor Saul Faust, Professor of Paediatric Immunology and Infectious Diseases at the University of Southampton and Director of the NIHR Southampton Clinical Research Facility at UHS. "Vaccine development is a process of trial and error-and trial again".
Mr Hancock said the process of finding a vaccine would involve "trial and error" but he has told United Kingdom scientists he would "back them to the hilt and give them every resource they need" to succeed.
Beyoncé, Gaga Offer Hope on TV Special Fighting Coronavirus
It also aired a package of people getting married - some in front of their homes, others inside - during the pandemic. The remaining $72.8 million will be split up and given to local and regional health care workers on the front lines.
Europe coronavirus death toll tops 90000
The cumulative death toll from the virus rose to 20,852 after 399 fatalities were recorded in the previous 24 hours. More than 20,000 people have now died from COVID-19 in Spain .
Glut, low prices may force Nigeria, others to shut oil production
Brent , the most important variety of crude, was trading close to $25 a barrel when the U.S. market saw that anomalous situation. The collapse of later contracts underscored the severity of the crisis rocking oil in the age of coronavirus.
"Those joining the trial will be playing a critical role in the global search for a vaccine that protects us all, not least frontline NHS workers, the elderly and those with underlying health conditions".
According to Hancock, in the long run "the best way to defeat coronavirus is through a vaccine".
The race to develop an effective vaccine against the novel coronavirus gathered pace this week, as clinical trials on humans were approved in Germany and launched in the UK.
More than 70 COVID-19 vaccines are now in development worldwide, according to the World Health Organization.
He said the number of patients with COVID-19 symptoms is now down to 17681, adding that 17,366 people have died in hospitals.
"We have started "at risk" manufacturing of this vaccine, not just on a smallish scale. but with a network of manufacturers in as many as seven different places around the world", said Adrian Hill, a professor and director of the Jenner Institute at Oxford University, Reuters reported.