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A German company is collaborating with U.S. pharmaceutical giant Pfizer on a potential COVID-19 vaccine, which could be ready by the end of the year, according to CNN.

The vaccine is currently undergoing human trials. Pfizer announced that it will begin testing the experimental vaccine in the U.S. as early as next week. The Wall Street Journal reported on Tuesday that the vaccine could be put into emergency use in the fall.

BioNTech, the Mainz-based company, also reported that it has given the first cohort of participants the potential vaccine, BNT162, in a Phase ½ clinical trial in Germany.

"Twelve study participants have been vaccinated with the vaccine candidate BNT162 in Germany since the start of the study on April 23, 2020," the company said in a statement.

"In addition, the safety and immunogenicity of the vaccine will be investigated," the company added.

Information on the results is currently unavailable, but BioNTech reported that 200 healthy volunteers from age 18 to age 55 are given doses from 1 microgram to 100 microgram to find the optimal dose for future trials.

"The two companies plan to jointly conduct clinical trials for the COVID-19 vaccine candidates initially in Europe and the U.S., across multiple research sites," Pfizer announced in its first quarter report on Tuesday.

"The companies estimate that there is potential to supply millions of vaccine doses by the end of 2020, subject to technical success of the development program and approval by regulatory authorities, and the potential to rapidly scale up the capacity to produce hundreds of millions of doses in 2021,” Pfizer’s report read.

See the full report here.