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EvoNexus Gets Bank, Investment Firm Backing for Fintech Incubator

Xconomy

Two financial firms are betting on a nonprofit incubator program in San Diego in hopes of identifying top talent and potential targets for investment or acquisition. The incubator, EvoNexus , said this week that Royal Bank of Canada, Canada’s largest bank, and Franklin Templeton (NYSE: BEN ), a U.S.

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Portfolium Acquired By Instructure

socalTECH

San Diego-based Portfolium , a startup developing tools to allow students to showcase their achievements, projects, and other portfolio of academic work to potential employers, has been acquired by educational software provider Instructure , the two announced late Tuesday. Financial details of the acquisition were not announced.

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CARLSMED Merges With Precisive Surgical

socalTECH

San Diego-based medical technology startup CARLSMED has merged with Seattle-based Precisive Surgical , the two said this week, to combine their efforts to develop a personalized surgical workflow platform for spine deformity intervention. Financial terms of the acquisition were not announced. READ MORE>>.

Incubator 124
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RapidEngage Acquired By QuestionPro

socalTECH

San Diego-based RapidEngage , a developer of online survey software and tools used to collect customer feedback and to engage users, has been acquired by fellow online survey company QuestionPro. RapidEngage was one of the companies incubated at EvoNexus. Financial terms of the buy were not disclosed. READ MORE>>.

SoCalTech 185
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COI Pharmaceuticals Gets $576M Exit

socalTECH

San Diego-based COI Pharmaceuticals , the life sciences incubator and support entity created by Avalon Ventures to support its portfolio companies, says that one of its companies, Calporta Therapeutics , has been acquired by Merck. The deal is worth up to $576M, including upfront payments and contingent milestone payments.

Avalon 124
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Xpenser Acquired By Coupa Software

socalTECH

San Diego-based Xpenser , a startup developing a cloud-based service to help prepare and submit expense reports for its users, has been acquired. The firm was one of the companies which had been part of the EvoNexus incubator. xpenser expense management software travel tande coupa merger acquisition evonexus' READ MORE>>.

Software 193
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Avalon Ventures Gets Exit At Sitari Pharmaceuticals

socalTECH

San Diego-based biotech investor Avalon Ventures has scored an exit, saying late Tuesday evening that it has entered into a definitive agreement with GlaxoSmithKline (GSK), to sell Sitari Pharmaceuticals to GSK. Sitari was developing treatments for celiac disease, and was being incubated at COI Pharmaceuticals.

Avalon 100