Microsoft Corp. co-founder Bill Gates said his foundation will make billions of dollars available for manufacturing the most promising vaccines to combat the novel coronavirus.

Mr. Gates, a billionaire philanthropist who is one the richest people in the world, said the Bill and Melinda Gates Foundation will work with seven makers of a possible vaccine to develop facilities and manufacture doses. The effort will likely cost billions of dollars and require funding from governments and other backers. Mr. Gates, who announced...