The UK government has promised £46m to fund urgent work to find a coronavirus vaccine and develop a rapid test for the disease.
This will include work on eight possible vaccines which are already in development as well as further research, the government said.
The funding will also support a lab in Bedford to develop a test that could provide results within 20 minutes.
But the test could still be six months away.
Similar to a pregnancy test, it would use a swab of saliva or a pinprick of blood. The lab already has experience of creating similar tests for Ebola, yellow fever and measles.
Existing tests can take a couple of days to provide results, as they rely on samples being sent away to a lab for analysis.
Government scientific advisers have already warned a working vaccine is unlikely to be ready in time for this current outbreak.
What do I need to know about the coronavirus?
The funding, announced by Prime Minister Boris Johnson, comes under the “research” phase of the government’s “battle plan” to contain, delay, mitigate and research coronavirus.
He visited the Mologic lab in Bedfordshire where British scientists are using expertise and experience from previous epidemics.
In a statement, he said: “Keeping the British people safe is my number one priority, and that’s why I’ve set out our four-part plan to contain, delay, mitigate and research coronavirus.
“We are ensuring the country is prepared for the current outbreak, guided by the science at every stage. But we also need to invest now in researching the vaccines that could help prevent future outbreaks.
“I’m very proud that UK experts – backed by government funding – are on the front line of global efforts to do just that.”
The government’s chief scientific officer, Sir Patrick Vallance, said: “Rapid testing is going to be key to managing this outbreak, but ultimately vaccines are going to provide the long-term protection we need.
“The UK has some of the world’s leading scientists and this money will help in our fight to tackle this new disease.”
The announcement takes the total amount of money committed by the government to spending on coronavirus to £91m and £65m on vaccine research.
Global human trials of the eight possible vaccines could start later this year but firms would still face the task of mass-producing and distributing them.
It comes as the government is under pressure to explain its plans for ensuring food supplies, as supermarkets report sales of basics going “through the roof”.
Health Secretary Matt Hancock told a BBC Question Time audience he was “absolutely confident” food supplies would not run out, amid concerns people were stockpiling.
He said the government was working with supermarkets to ensure food and supplies could get to people in self-isolation.
But a supermarket executive told the BBC sales of cupboard basics had “gone through the roof” and he was not sure the government could guarantee food supply in all instances.
He also denied the government had been in contact about ensuring supplies for self-isolators.