Business Secretary Alok Sharma said the additional funding would support teams at Oxford University and Imperial College London engaged in the global race to find a vaccine that could finally end the devastating pandemic.
Work is continuing on a coronavirus vaccine.
"Looking towards an autumn deadline is great, but we need to realise that there is probably going to be more work to do and be may be looking at next year".
However, BAT's experimental vaccine isn't found on the list of potential vaccine makers database for COVID-19 by World Health Organisation.
The former head of the health department Jane Halton has called for the no jab no play policy applying to children in children in childcare to be extended to adults as she took aim at footballers who have been refusing to get their flu vaccinations.
As dozens of companies and universities rush to develop a coronavirus vaccine, the USA will also have to grapple with who will get a vaccine first once it's been approved by the Food and Drug Administration.
Ms Halton says CEPI has raised about $1.4 billion of $2 billion needed to develop a vaccine.
"We do need to understand if this virus is everywhere in the world and vulnerable people are not protected, everyone is still vulnerable", she told the National Press Club.
World Health Organization official announces that 'the coronavirus may never go away'
Despite those numbers, Ryan noted that the "current number of people in our population who've been infected is actually relatively low".
"But that collaboration will rapidly become competitive, I'm sure, as candidate vaccines become more likely to be successful".
He said the additional research funding would help with the mass production of the vaccine so that if trials are successful "we have dosages to start vaccinating the United Kingdom population straight away".
This could mean that the United Kingdom will be the first to gain access to the vaccine.
However, no deals have been settled and it is unclear whether a vaccine will be patented.
A doctor working on the coronavirus vaccine has told LBC the jab is unlikely to be ready by September.
Sharma said the government had previously invested £47 million ($56.7 million) in both vaccine projects, and was now investing a further £84 million. If the trials are successful, they will make 30 million vaccine doses for Britain by September, and 100 million doses in total.
Australia's local vaccine manufacturer can't make all types of vaccines.
The Daily Telegraph can reveal Industry Minister Karen Andrews has commissioned "capability mapping" via the CSIRO that involves the nation's largest company, CSL, as well as the local arm of United States giant Johnson & Johnson, to determine at what scale different types of potential coronavirus vaccines could be made in Australia.