% open the first figure
fig1 = openfig('figure1.fig','visible');
% create the new axes
ax2 = axes(fig1,'Units','normalized','position',[0.52 0.52 0.38 0.38]);
% open the second figure
fig2 = openfig('figure2.fig','invisible');
% copy the stuff from the second figure's axes into the new axes
ch = findall(fig2.CurrentAxes);
ch(ch == fig2.CurrentAxes) = [];
copyobj(ch,ax2)
% delete the second figure
delete(fig2)
