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The World Health Organization is approving another malaria vaccine for children.

The new vaccine is made by the University of Oxford and is expected to save hundreds of thousands of lives a year.

About 95% of malaria cases happen in Africa, and the disease killed more than 600,000 people last year. Most of those victims were younger than 5.

The Oxford vaccine can be mass-produced quickly and cheaply compared to the first vaccine. There are already plans in place to make 100 million doses a year with plans to scale up to 200 million. For comparison, there are only 18 million doses of the first vaccine after two years of production.

Each dose costs under $4 and inoculation is achieved after four shots. That means the new vaccine can, in theory, save a life for less than $16, which would signal a major advancement in the fight against the deadly disease.