Connecticut and Jackson Laboratory finalized their agreement for the Bar Harbor, Maine, company to build a $1.1 billion personalized-medicine laboratory at the University of Connecticut Health Center in Farmington.

Lawmakers in October approved a $291 million bond package to help with the funding. Under a collaborative effort that also involves Yale University, Jackson plans to build a 173,500-square-foot genetics research center on 17 acres of state-owned land.

According to a statement from Gov. Dannel Malloy's office, Jackson and the state worked out an intellectual property-sharing agreement that will give the venture capital fund Connecticut Innovations 10% of any net royalty proceeds from such property up to $3 million and 50% of any net royalty proceeds above $3 million starting in the 10th year and running for 15 years.

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