San Diego companies closed acquisitions, raised funding, and opened new facilities across at least four industries during June 2026. The largest single transaction came from Qualcomm, which agreed to acquire the artificial intelligence firm Modular for $3.9 billion. Activity ran through biotech, defense manufacturing, climate technology, and hospitality, with deals reported in each of the San Diego Regional EDC’s weekly business roundups.

Acquisitions Crossed Multiple Sectors

Qualcomm’s $3.9 billion purchase of Modular led a string of June acquisitions. Japan’s TDK acquired Fabric8Labs, a Torrey Pines company that develops 3D-printing technology. Dexcom acquired Nutrisense, a Chicago-based nutrition platform, and rolled out upgrades to its Stelo glucose monitor. ResMed completed a $340 million acquisition of Noctrix and announced a partnership with Oura. Avenzo Therapeutics and Rallybio merged in a deal that raised $215 million.

Funding and Grants Flowed Into Research

cAMPfield raised a $180 million Series A to fund an oral treatment for inflammatory bowel disease. Element Biosciences secured a $175 million Series E led by Samsung. Anaergia, based in Carlsbad, won a $42 million renewable energy processing deal, and AquaPoro closed a $5 million seed round for atmospheric water technology. Public funding added more, with General Atomics receiving a $20 million California Competes tax credit for fusion energy work and UC San Diego’s Moores Cancer Center winning a $25 million grant from the National Cancer Institute.

New Facilities and Production Increases

Pfizer opened a cancer research and development center in Torrey Pines. MARTAC, a Florida defense contractor, opened a defense innovation center in San Diego. FormAlloy relocated its manufacturing into a 23,000-square-foot facility in El Cajon. Kratos increased production of its Spartan Engine to 3,000 units a year to meet demand for missiles and munitions.

Hotel and Restaurant Investment Continued

The hospitality sector added rooms through the month, led by Le Méridien’s new 231-room hotel in downtown San Diego with a 39th-floor rooftop pool and 12,000 square feet of event space near the waterfront and Little Italy. A 32-unit Autograph Collection hotel by Marriott opened in Carlsbad in May. Ten hotels totaling 1,328 rooms were under construction across the county, a 1.9 percent increase in supply.

Statewide, California hotel room revenue is projected to rise 3.5 percent in 2026 to $27.8 billion, with average daily rate climbing 2.2 percent to $195, past the previous peak set in 2023. San Diego led the state on occupancy at 73.8 percent over the trailing twelve months, with revenue per available room up 2.4 percent.

Restaurant openings tracked alongside the new hotel rooms through the same period. Industry trackers counted more than 80 bar and restaurant openings planned across San Diego County for 2026, including Los Angeles concepts such as Sugarfish, Jon & Vinny’s, and Katsuya entering the market and several international brands making their U.S. debuts.

San Diego is home to more than 170,000 small businesses, which employ roughly half of the city’s private-sector workforce. The June activity added private acquisitions, venture funding, public research grants, and new construction across the region’s biotech, defense, energy, and hospitality sectors.

Sources

Businesses Mentioned

Qualcomm Modular TDK Fabric8Labs Dexcom Nutrisense ResMed Noctrix Element Biosciences cAMPfield Pfizer MARTAC Kratos Le Méridien