NEW YORK (CNNMoney.com) - GlaxoSmithKline Plc has developed a new vaccine that could help prevent ear infections, a widespread problem for children, according to a study published in the British medical journal Lancet.

Acute otitis media, the medical name for ear infections, is one of the most commonly diagnosed childhood ailments and causes fever, pain and can lead to hearing loss in severe cases.

About 90 percent of children have acute otitis media at some time before school age, most often between ages 6 months and 4 years, according to the American Academy of Pediatrics (AAP).

The vaccine, called Streptorix, is currently being tested in ongoing Phase III clinical studies.

Researchers at the University of Defence in the Czech Republic tested the vaccine on nearly 5,000 infants and children under the age of five and said the vaccine reduced the frequency of infection by 65.5 percent.

"This study showed a statistically significant and clinically relevant reduction in episodes of acute otitis media," Dr. Roman Prymula, who headed the Phase III study, reported in the March 4 edition of Lancet.

A spokeswoman for GlaxoSmithKline called the results "very promising."

"The data being published in the Lancet showed significant vaccine efficacy against acute otitis media, one of the most frequent reasons for children under the age of 3 to visit a physician and receive antibiotic treatment," she said.

Glaxo plans to submit Streptorix for regulatory approval in Europe in 2007 but has not given a date for filing it for approval with U.S. regulators.

GlaxoSmithKline (up $0.39 to $52.04, Research)'s U.S. shares rose on the news.

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