Cambridge Enterprise, the commercialisation unit of Cambridge University, has announced the institution could earn up to £10.7m ($17.6m) from the $95m sale of medtech BlueGnome to US biotech Illumina.

The university has already made £7.7m from the deal, but another £3m could be earned if milestones are met by BlueGnome. The proceeds from the deal will be returned to Cambridge’s seed funds, which will be used to support future spin-out firms.

The windfall comes after the launch of the £50m…

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