The impact of trust on private equity contracts

This paper adresses the impact of trust on private equity contracts. Trust between investor and entrepreneur is essential to help overcome control problems, especially in an environment with severe agency risks and incomplete contracts. In this study, information about the effects of trust is collected using a simulation with 144 entrepreneurs and investors. We find that trust has an impact on the desired contracts of entrepreneurs, but not on that of investors. Our findings suggest that for parties, faced with potentially large agency problems (investors), trust and control seem to play complementary roles. On the other hand, for parties faced with smaller agency problems (entrepreneurs), trust seems to be a substitute for control

Stimulation des lymphocytes T régulateurs chez la souris dans un contexte inflammatoire comme le diabète auto-immun.

Regulatory T cells (Treg) play a major role in the regulation of immune response. We studied the impact of the activation of T lymphocytes (Tconv) on Treg homeostasis in 2 inflammatory environnements: type 1 diabetes (T1D), and in adjuvant-induced inflammation. In these two contexts, we observed that Tconv have the capacity to increase the proliferation of Treg. We called this phenomenon the TconvTreg boost. Surprisingly, this Treg boost is partially dependent on TNF-α, in both contexts. Moreover, the TconvTreg boost is dependent on IL-2 in adjuvant-induced inflammation scenario, but not in T1D. These data show that Tconv could have a paradoxical immuno-regulating effect.It has been established that IL-2 is essential for Treg homeostasis. In a model of non- obese diabetic (NOD) mice, low doses of IL-2 could cure T1D by increasing the proportion and suppressive capacity of pancreas-infiltrating Treg. Interestingly, higher doses of IL-2 accelerate the incidence of T1D. With the aim to improve the curative effect of IL-2 (low- dose), we combined this treatment with an immunosuppressive drug, rapamycin (rapa). Unexpectedly, rapa inhibited the therapeutic effect of IL-2. It seems that this drug alters both suppressive capacity and the migration of Treg into the pancreas, as well as it has a deleterious effect on glucose homeostasis at multiple levels. These findings reinforce the idea for the implementation of a clinical trial testing low-dose IL-2 to T1D patients, boosting their own Treg. On the other side, it is important to highlight that understanding the limitations of IL-2 and rapa in immunotherapy of T1D should allow the design of safer and optimized clinical trials for T1D treatment.Les lymphocytes T régulateurs (Treg) sont des acteurs majeurs du maintien de la tolérance au soi. Nous avons étudié l’impact de l’activation des Tconv sur l’homéostasie des Treg dans 2 contextes inflammatoires : de diabète de type 1(DT1) et d’inflammation induite par un adjuvant. Dans ces deux contextes, nous avons observé que les Tconv ont la capacité d’augmenter la prolifération des Treg. Nous avons appelé ce phénomène le boost TconvTreg. L’étude du mécanisme de ce boost révèle dans les deux contextes l’implication du TNFA l'inverse, ce boost des Treg est dépendant de l’IL-2 dans un contexte inflammatoire induit par un adjuvant mais pas dans le cas du diabète. Ces données montrent que les Tconv pourraient de façon paradoxale avoir des effets régulateurs en stimulant les Treg par différents mécanismes selon le contexte.Il est établi que l’IL-2 est essentiel pour l’homéostasie des Treg. Dans le modèle de diabète spontané, la souris NOD, l’administration d’une faible dose d’IL-2 permet la rémission du DT1, en augmentant la proportion et la capacité suppressive des Treg du pancréas. Cependant, l’injection d’une dose plus élevée d’IL-2 accélère l’incidence du diabète. Afin, d’améliorer l’effet curatif de faibles doses d’IL-2, nous avons combiné ce traitement avec la rapamycine (rapa). Or, la rapa inhibe l’effet thérapeutique de l’IL-2 en altérant la capacité suppressive des Treg, dans le pancréas ainsi que le métabolisme du glucose. Ces données ont contribué au design d’un essai clinique évaluant l’effet de l’IL-2 sur les Treg chez les patients diabétiques. Enfin, la compréhension des limitations de l’immunothérapie du DT1 basée sur l’IL-2/rapa devrait permettre le développement d’essais cliniques plus sûrs

The impact of trust on private equity contracts

This paper adresses the impact of trust on private equity contracts. Trust between investor and entrepreneur is essential to help overcome control problems, especially in an environment with severe agency risks and incomplete contracts. In this study, information about the effects of trust is collected using a simulation with 144 entrepreneurs and investors. We find that trust has an impact on the desired contracts of entrepreneurs, but not on that of investors. Our findings suggest that for parties, faced with potentially large agency problems (investors), trust and control seem to play complementary roles. On the other hand, for parties faced with smaller agency problems (entrepreneurs), trust seems to be a substitute for control

Role of Cytokines in Thymus- Versus Peripherally Derived-Regulatory T Cell Differentiation and Function

International audienceCD4 + CD25 + Foxp3 + regulatoryT cells (Tregs) are essential players in the control of immune responses. Recently, accordingly to their origin, two main subsets of Tregs have been described: thymus-derived Tregs (tTregs) and peripherally derived Tregs (pTregs). Numerous signaling pathways including the IL-2/STAT5 or theTGF-β/Smad3 pathways play a crucial role in segregating the two lineages. Here, we review some of the information existing on the distinct requirements of IL-2, TGF-β, and TNF-α three major cytokines involved in tTreg and pTreg generation, homeostasis and function. Today it is clear that signaling via the IL-2Rβ chain (CD122) common to IL-2 and IL-15 is required for proper differentiation of tTregs and for tTreg and pTreg survival in the periphery. This notion has led to the development of promising therapeutic strategies based on low-dose IL-2 administration to boost the patients' own Treg compartment and dampen autoimmunity and inflammation. Also, solid evidence points to TGF-β as the master regulator of pTreg differentiation and homeostasis. However, therapeutic administration of TGF-β is difficult to implement due to toxicity and safety issues. Knowledge on the role of TNF-α on the biology of Tregs is fragmentary and inconsistent between mice and humans. Moreover, emerging results from the clinical use of TNF-α inhibitors indicate that part of their anti-inflammatory effect may be dependent on their action on Tregs. Given the profusion of clinical trials testing cytokine administration or blocking to modulate inflammatory diseases, a better knowledge of the effects of cytokines on tTregs and pTregs biology is necessary to improve the efficiency of these immunotherapies

Enabling planetary science across light-years. Ariel Definition Study Report

Ariel, the Atmospheric Remote-sensing Infrared Exoplanet Large-survey, was adopted as the fourth medium-class mission in ESA's Cosmic Vision programme to be launched in 2029. During its 4-year mission, Ariel will study what exoplanets are made of, how they formed and how they evolve, by surveying a diverse sample of about 1000 extrasolar planets, simultaneously in visible and infrared wavelengths. It is the first mission dedicated to measuring the chemical composition and thermal structures of hundreds of transiting exoplanets, enabling planetary science far beyond the boundaries of the Solar System. The payload consists of an off-axis Cassegrain telescope (primary mirror 1100 mm x 730 mm ellipse) and two separate instruments (FGS and AIRS) covering simultaneously 0.5-7.8 micron spectral range. The satellite is best placed into an L2 orbit to maximise the thermal stability and the field of regard. The payload module is passively cooled via a series of V-Groove radiators; the detectors for the AIRS are the only items that require active cooling via an active Ne JT cooler. The Ariel payload is developed by a consortium of more than 50 institutes from 16 ESA countries, which include the UK, France, Italy, Belgium, Poland, Spain, Austria, Denmark, Ireland, Portugal, Czech Republic, Hungary, the Netherlands, Sweden, Norway, Estonia, and a NASA contribution

Cent scientifiques répliquent à SEA (Suppression des Expériences sur l’Animal vivant) et dénoncent sa désinformation

La lutte contre la maltraitance animale est sans conteste une cause moralement juste. Mais elle ne justifie en rien la désinformation à laquelle certaines associations qui s’en réclament ont recours pour remettre en question l’usage de l’expérimentation animale en recherche

Stimulation des lymphocytes T régulateurs chez la souris dans un contexte inflammatoire comme le diabète auto-immun

PARIS-BIUSJ-Biologie recherche (751052107) / SudocSudocFranceF