The experimental vaccine against COVID-19, developed by Noubar Afeyan's Moderna Inc, produces antibodies that can 'neutralize' the new COVID-19 in patients. 

These are the results of a small clinical trial at an early stage, Reuters reported.

Antibody levels were similar to those in the blood samples of people who recovered from COVID-19.

Participants were given three different doses of the vaccine, and the company said it revealed a dose-dependent increase in immunogenicity is the ability to elicit an immune response in the body.

The drug developer said the vaccine, mRNA-1273, was also generally safe and well-tolerated early in the study.

Moderna Inc leads global vaccine development efforts for the new coronavirus. It hopes to move on to late-stage trials in July.