CD36 deficiency leads to choroidal involution via COX2 down-regulation in rodents.

BACKGROUND: In the Western world, a major cause of blindness is age-related macular degeneration (AMD). Recent research in angiogenesis has furthered the understanding of choroidal neovascularization, which occurs in the "wet" form of AMD. In contrast, very little is known about the mechanisms of the predominant, "dry" form of AMD, which is characterized by retinal atrophy and choroidal involution. The aim of this study is to elucidate the possible implication of the scavenger receptor CD36 in retinal degeneration and choroidal involution, the cardinal features of the dry form of AMD. METHODS AND FINDINGS: We here show that deficiency of CD36, which participates in outer segment (OS) phagocytosis by the retinal pigment epithelium (RPE) in vitro, leads to significant progressive age-related photoreceptor degeneration evaluated histologically at different ages in two rodent models of CD36 invalidation in vivo (Spontaneous hypertensive rats (SHR) and CD36-/- mice). Furthermore, these animals developed significant age related choroidal involution reflected in a 100%-300% increase in the avascular area of the choriocapillaries measured on vascular corrosion casts of aged animals. We also show that proangiogenic COX2 expression in RPE is stimulated by CD36 activating antibody and that CD36-deficient RPE cells from SHR rats fail to induce COX2 and subsequent vascular endothelial growth factor (VEGF) expression upon OS or antibody stimulation in vitro. CD36-/- mice express reduced levels of COX2 and VEGF in vivo, and COX2-/- mice develop progressive choroidal degeneration similar to what is seen in CD36 deficiency. CONCLUSIONS: CD36 deficiency leads to choroidal involution via COX2 down-regulation in the RPE. These results show a novel molecular mechanism of choroidal degeneration, a key feature of dry AMD. These findings unveil a pathogenic process, to our knowledge previously undescribed, with important implications for the development of new therapies.

Investment, duration, and exit strategies for corporate and independent venture capital-backed start-ups

We propose a model of investment, duration, and exit strategies for start-ups backed by venture capital (VC) funds that accounts for the high level of uncertainty, the asymmetry of information between insiders and outsiders, and the discount rate. Our analysis predicts that start-ups backed by corporate VC funds remain for a longer period of time before exiting and receive larger investment amounts than those financed by independent VC funds. Although a longer duration leads to a higher likelihood of an exit through an acquisition, a larger investment increases the probability of an IPO exit. These predictions find strong empirical support.

CB1 blockade potentiates down-regulation of lipogenic gene expression in perirenal adipose tissue in high carbohydrate diet-induced obesity.

De novo lipogenesis and hypercaloric diets are thought to contribute to increased fat mass, particularly in abdominal fat depots. CB1 is highly expressed in adipose tissue, and CB1-mediated signalling is associated with stimulation of lipogenesis and diet-induced obesity, though its contribution to increasing fat deposition in adipose tissue is controversial. Lipogenesis is regulated by transcription factors such as liver X receptor (LXR), sterol-response element binding protein (SREBP) and carbohydrate-responsive-element-binding protein (ChREBP). We evaluated the role of CB1 in the gene expression of these factors and their target genes in relation to lipogenesis in the perirenal adipose tissue (PrAT) of rats fed a high-carbohydrate diet (HCHD) or a high-fat diet (HFD). Both obesity models showed an up-regulated gene expression of CB1 and Lxrα in this adipose pad. The Srebf-1 and ChREBP gene expressions were down-regulated in HFD but not in HCHD. The expression of their target genes encoding for lipogenic enzymes showed a decrease in diet-induced obesity and was particularly dramatic in HFD. In HCHD, CB1 blockade by AM251 reduced the Srebf-1 and ChREBP expression and totally abrogated the remnant gene expression of their target lipogenic enzymes. The phosphorylated form of the extracellular signal-regulated kinase (ERK-p), which participates in the CB1-mediated signalling pathway, was markedly present in the PrAT of obese rats. ERK-p was drastically repressed by AM251 indicating that CB1 is actually functional in PrAT of obese animals, though its activation loses the ability to stimulate lipogenesis in PrAT of obese rats. Even so, the remnant expression levels of lipogenic transcription factors found in HCHD-fed rats are still dependent on CB1 activity. Hence, in HCHD-induced obesity, CB1 blockade may help to further potentiate the reduction of lipogenesis in PrAT by means of inducing down-regulation of the ChREBP and Srebf-1 gene expression, and consequently in the expression of lipogenic enzymes.

Role of Sam68 in post-transcriptional gene regulation.

The STAR family of proteins links signaling pathways to various aspects of post-transcriptional regulation and processing of RNAs. Sam68 belongs to this class of heteronuclear ribonucleoprotein particle K (hnRNP K) homology (KH) single domain-containing family of RNA-binding proteins that also contains some domains predicted to bind critical components in signal transduction pathways. In response to phosphorylation and other post-transcriptional modifications, Sam68 has been shown to have the ability to link signal transduction pathways to downstream effects regulating RNA metabolism, including transcription, alternative splicing or RNA transport. In addition to its function as a docking protein in some signaling pathways, this prototypic STAR protein has been identified to have a nuclear localization and to take part in the formation of both nuclear and cytosolic multi-molecular complexes such as Sam68 nuclear bodies and stress granules. Coupling with other proteins and RNA targets, Sam68 may play a role in the regulation of differential expression and mRNA processing and translation according to internal and external signals, thus mediating important physiological functions, such as cell death, proliferation or cell differentiation.

Regulation of cell death receptor S-nitrosylation and apoptotic signaling by Sorafenib in hepatoblastoma cells.

Nitric oxide (NO) plays a relevant role during cell death regulation in tumor cells. The overexpression of nitric oxide synthase type III (NOS-3) induces oxidative and nitrosative stress, p53 and cell death receptor expression and apoptosis in hepatoblastoma cells. S-nitrosylation of cell death receptor modulates apoptosis. Sorafenib is the unique recommended molecular-targeted drug for the treatment of patients with advanced hepatocellular carcinoma. The present study was addressed to elucidate the potential role of NO during Sorafenib-induced cell death in HepG2 cells. We determined the intra- and extracellular NO concentration, cell death receptor expression and their S-nitrosylation modifications, and apoptotic signaling in Sorafenib-treated HepG2 cells. The effect of NO donors on above parameters has also been determined. Sorafenib induced apoptosis in HepG2 cells. However, low concentration of the drug (10nM) increased cell death receptor expression, as well as caspase-8 and -9 activation, but without activation of downstream apoptotic markers. In contrast, Sorafenib (10µM) reduced upstream apoptotic parameters but increased caspase-3 activation and DNA fragmentation in HepG2 cells. The shift of cell death signaling pathway was associated with a reduction of S-nitrosylation of cell death receptors in Sorafenib-treated cells. The administration of NO donors increased S-nitrosylation of cell death receptors and overall induction of cell death markers in control and Sorafenib-treated cells. In conclusion, Sorafenib induced alteration of cell death receptor S-nitrosylation status which may have a relevant repercussion on cell death signaling in hepatoblastoma cells.

Geração e gestão do valor por meio de métricas baseadas nas perspectivas do capital intelectual

No presente estudo, tomou-se como ponto de partida pesquisa em que se discutem possibilidades de as empresas alcançarem valor superior com base no alinhamento estratégico, na gestão do capital intelectual e na adoção do Balanced Scorecard (BSC). Investigou-se a associação entre a geração de valor e os componentes do capital intelectual segundo preceitos, entre outros, de Stewart (1999; 2001) M'Pherson e Pike (2001) e Kaplan e Norton (2004), além de trazer à tona a questão da implementação e extensão da utiliza- ção do Balanced Scorecard. As proxies empregadas para caracte- rizar geração de valor foram a média do price-to-book value (razão entre o valor de mercado e o valor patrimonial) e o retorno médio das ações no período estudado. Para caracterizar os componentes do capital intelectual, adotaram-se índices computados a partir da percepção de executivos de topo responsáveis por processos corporativos de planejamento e controle, com base na revisão de literatura e com base em procedimento de fatoração. O estudo utilizou testes não paramétricos para identificar se há evidências de diferente apreciação e retorno no mercado acionário para segmentos homogêneos de empresas com perfis diferenciados quanto aos índices de capital intelectual. Os resultados mostraram-se conclusivos e significantes - em reforço à proposição de sintonia entre a percepção do valor sob o enfoque do mercado de capitais e a percepção da performance em múltiplas perspectivas por parte de gestores. Quanto à adoção do BSC, foram identificados indícios de interferência favorável à performance nas empresas classificadas como de melhores padrões de geração de valor.

Problemas de estimação de custo de capital de empresas concessionárias no Brasil: uma aplicação à regulamentação de concessões rodoviárias

Neste trabalho, discute-se a fixação de taxas de retorno de concessões no Brasil, com aplicação específica ao caso da metodologia da Agência Nacional de Transportes Terrestres (ANTT). Mostra-se a inadequação da regulamentação vigente, baseada no conceito de taxa interna de retorno (TIR), e não de custo de oportunidade do capital. A partir de um exemplo com dados referentes ao auge da crise financeira internacional (dezembro de 2008), evidencia-se também a falta de lógica decorrente da utilização de retornos e preços passados na estimação de taxas de retorno, um procedimento comum a toda a área de concessões de serviços públicos no Brasil. Propõe-se uma metodologia alternativa cujos resultados são sensíveis às condições correntes de mercado de capitais, que produz resultados coerentes com a situação então vigente.

A role for glutamate transporters in the regulation of insulin secretion.

In the brain, glutamate is an extracellular transmitter that mediates cell-to-cell communication. Prior to synaptic release it is pumped into vesicles by vesicular glutamate transporters (VGLUTs). To inactivate glutamate receptor responses after release, glutamate is taken up into glial cells or neurons by excitatory amino acid transporters (EAATs). In the pancreatic islets of Langerhans, glutamate is proposed to act as an intracellular messenger, regulating insulin secretion from β-cells, but the mechanisms involved are unknown. By immunogold cytochemistry we show that insulin containing secretory granules express VGLUT3. Despite the fact that they have a VGLUT, the levels of glutamate in these granules are low, indicating the presence of a protein that can transport glutamate out of the granules. Surprisingly, in β-cells the glutamate transporter EAAT2 is located, not in the plasma membrane as it is in brain cells, but exclusively in insulin-containing secretory granules, together with VGLUT3. In EAAT2 knock out mice, the content of glutamate in secretory granules is higher than in wild type mice. These data imply a glutamate cycle in which glutamate is carried into the granules by VGLUT3 and carried out by EAAT2. Perturbing this cycle by knocking down EAAT2 expression with a small interfering RNA, or by over-expressing EAAT2 or a VGLUT in insulin granules, significantly reduced the rate of granule exocytosis. Simulations of granule energetics suggest that VGLUT3 and EAAT2 may regulate the pH and membrane potential of the granules and thereby regulate insulin secretion. These data suggest that insulin secretion from β-cells is modulated by the flux of glutamate through the secretory granules.

The generation and re-generation of social capital and enterprises in multi-stakeholders social cooperative enterprises: a system dynamic approach

Theories on social capital and on social entrepreneurship have mainly highlighted the attitude of social capital to generate enterprises and to foster good relations between third sector organizations and the public sector. This paper considers the social capital in a specific third sector enterprise; here, multi-stakeholder social cooperatives are seen, at the same time, as social capital results, creators and incubators. In the particular enterprises that identify themselves as community social enterprises, social capital, both as organizational and relational capital, is fundamental: SCEs arise from but also produce and disseminate social capital. This paper aims to improve the building of relational social capital and the refining of helpful relations drawn from other arenas, where they were created and from where they are sometimes transferred to other realities, where their role is carried on further (often working in non-profit, horizontally and vertically arranged groups, where they share resources and relations). To represent this perspective, we use a qualitative system dynamic approach in which social capital is measured using proxies. Cooperation of volunteers, customers, community leaders and third sector local organizations is fundamental to establish trust relations between public local authorities and cooperatives. These relations help the latter to maintain long-term contracts with local authorities as providers of social services and enable them to add innovation to their services, by developing experiences and management models and maintaining an interchange with civil servants regarding these matters. The long-term relations and the organizational relations linking SCEs and public organizations help to create and to renovate social capital. Thus, multi-stakeholder cooperatives originated via social capital developed in third sector organizations produce new social capital within the cooperatives themselves and between different cooperatives (entrepreneurial components of the third sector) and the public sector. In their entrepreneurial life, cooperatives have to contrast the "working drift," as a result of which only workers remain as members of the cooperative, while other stakeholders leave the organization. Those who are not workers in the cooperative are (stake)holders with "weak ties," who are nevertheless fundamental in making a worker's cooperative an authentic social multi-stakeholders cooperative. To maintain multi-stakeholder governance and the relations with third sector and civil society, social cooperatives have to reinforce participation and dialogue with civil society through ongoing efforts to include people that provide social proposals. We try to represent these processes in a system dynamic model applied to local cooperatives, measuring the social capital created by the social cooperative through proxies, such as number of volunteers and strong cooperation with public institutions. Using a reverse-engineering approach, we can individuate the determinants of the creation of social capital and thereby give support to governance that creates social capital.

Ensaio sobre as virtudes do capital de risco corporativo para projetos de alta tecnologia no setor agrícola: a trajetória inovadora da Alellyx Applied Genomics e da CanaVialis

O objetivo neste artigo é investigar a trajetória de duas empresas startups brasileiras dedicadas a pesquisa e desenvolvimento (P&D) no setor de biotecnologia: a Alellyx e a CanaVialis. São dois casos de spin-offs acadêmicos e de bioemprendimentos germinados na esfera do Projeto Genoma, da Fundação de Amparo à Pesquisa do Estado de São Paulo (Fapesp), maturadas na Votorantim Novos Negócios (VNN), área de novos negócios de um dos maiores grupos industriais brasileiros que atua no segmento de commodities, o Grupo Votorantim S/A, e depois vendidas para a Monsanto. Neste estudo, tentou-se compreender a racionalidade e as virtudes das ações de investimentos corporativos e das políticas públicas destinadas à biotecnologia focada em genômica aplicada para a agricultura no Brasil. A metodologia utilizada é a de estudo de caso, mais especificamente de análise dos dois casos de empresas comentados acima. Os resultados demonstraram que, apesar de o principal objetivo do grupo econômico ser a célere valorização do capital investido e seu retorno financeiro, a afiliação corporativa dessas empresas estimulou a aceleração de um conjunto de capacitações para a gestão empresarial da Alellyx e da CanaVialis, que foram críticas para o amadurecimento do negócio. Evidenciou-se, ainda, que foi fundamental o significativo aporte de recursos por meio dos mecanismos de apoio do sistema nacional à inovação.

Estudo dos fatores que determinam a formação do capital social familiar em empresas familiares na região sul de Minas Gerais

No estudo aqui relatado identificaram-se os fatores que levam à formação do capital social familiar em empresas familiares. Para atingir o objetivo proposto, utilizou-se, como aporte teórico, a teoria do capital social e do capital social familiar. Para tanto, foi realizada uma pesquisa exploratória, do tipo survey, em 120 empreendimentos familiares. Aplicou-se questionário, sob a forma de entrevista, a todos os empresários. Os dados foram analisados por meio de análise fatorial. Os resultados foram apresentados em dois blocos: primeiro, a caracterização da amostra em relação ao perfil do respondente e ao perfil do empreendimento, bem como a apresentação da frequência de cada uma das assertivas; na segunda parte, foi feita a análise fatorial, após a qual foram identificados sete fatores relacionados com a formação do capital social familiar. São eles: diálogo colaborativo, rede familiar, infraestrutura moral, confiança, normas éticas, ideias próprias e canais de informação externos. O capital social familiar é solidificado por meio do diálogo colaborativo, a partir do qual é possível enraizar, na família e na empresa, as normas éticas, originando o que se chama de infraestrutura moral, quando a família e a empresa estão em sintonia interna e externa. Em um sentido contraditório, a ausência do diálogo colaborativo gera autoritarismo por parte dos dirigentes e membros da família, prevalecendo ideias próprias, as quais foram identificadas como fator contraditório à formação do capital social familiar.

"Um arranjo produtivo em xeque": campo, habitus e capital simbólico em um Arranjo Produtivo Local moveleiro em Minas Gerais

O Arranjo Produtivo Local de Ubá e região (APL de Ubá) gera cerca de nove mil empregos e abriga a sede da maior empresa de móveis de aço da América Latina, além de três outras grandes empresas. Entretanto, é marcado por relações de disputa que preocupam os próprios empresários locais. O problema investigado é até que ponto essas disputas, especialmente entre fabricantes e fornecedores, colocam em risco esse APL moveleiro. O objetivo neste artigo é apresentar um entendimento de como se dão as relações de poder entre os empreendedores locais fabricantes de móveis e os fornecedores dessas empresas, discutindo suas implicações para o APL. Os resultados apontam para a existência de problemas nas relações entre fabricantes e fornecedores decorrentes, principalmente, da acumulação desigual de capital simbólico, do predomínio de interesses diferentes em jogo (illusio), bem como dos princípios diferentes e em oposição que orientam as práticas dos agentes (habitus). Os resultados apontam os riscos que essa natureza de relações acarreta para o APL de Ubá.