Crescita, Innovazione Tecnologica e Mercato dei Capitali: il Ruolo del Venture Capital

Questo paper considera il venture capital come forma di finanziamento che si realizza in quegli ambienti dove i fallimenti di mercato causati da problemi informativi sono tali da non rendere possibile l'affermazione di altre istituzioni finanziarie, e dove questa si affermi come unica forma di finanziamento nell'ambito della finanza d'impresa. Definiremo allora il venture capital come un intermediario finanziario altamente specializzato in grado di operare in certi ambienti, caratterizzati da livelli elevati di incertezza e dalla presenza di forti asimmetrie informative, in cui la capacità nell'affrontare le inefficienza strutturali del mercato risiede nell'abilità di raccogliere e trattare le informazioni rilevanti per prendere decisioni ottimali di investimento. Gli ambienti in cui i venture capitalist sono prevalenti sono i settori innovativi delle imprese ad alta tecnologia, dove a causa dell'elevata intensità di ricerca e sviluppo e della sostanziale intangibilità dei beni, si generano considerevoli livelli di incertezza e di asimmetrie informative, rendendo estremamente difficoltosa la selezione delle opportunità di investimento e il controllo dei comportamenti opportunistici degli imprenditori.Venture capital, asymmetric information, financing decision, ownership

Parallelizable Microfluidic Resistive On-Line Detector of Micrometric Aggregates of Biopharmaceutical Antibodies

A microfluidic device based on the differential measurement of the ionic resistance of a micropore for detection of aggregates of antibodies in biopharmaceutical downstream process is presented. The main novelty of this contribution regards the experimental demonstration that, despite the poor solidness of proteins, their aggregates, in their standard production buffer, can be electrically detected down to 2.4 μm diameter with sub-ms transit time (flow rate of 5 μl/min). Thanks to the simple PDMS fluidic fabrication, compact DC readout circuit and convenient use of the same metallic silver tubing for both electrical and fluidic interconnection, the device can be straightforwardly parallelized in tens of units, thus combining single micrometric sensitivity with larger flow rates (>100 μl/min), suitable for in-line installation in pharmaceutical plants

Effect of domestic sheep on chamois activity, distribution and abundance on sub-alpine pastures

Resource competition and disease transmission may occur when domestic and wild ungulates live sympatricly. We investigated if the release of sheep (Ovis aries) onto alpine pasture in Switzerland affected chamois (Rupicapra rupicapra) activity budgets, local population size and spatial distribution. We also evaluated the risk of transmission of Mycoplasma conjunctivae (causing a contagious eye disease) from sheep to chamois by examining if the two species had close contact with one another. We carried out the study in an alpine valley containing two adjacent areas: one containing sheep (Fochsenflue) and one where sheep were excluded (Spitzflue). We found no difference between the activity budgets of the chamois at the two sites. At the Fochsenflue, chamois and sheep mainly used separate areas. However, after approximately 1month, sheep started to move twice per day, into the main area of the chamois. The percentage time feeding, spatial distribution and numbers of chamois did not change in response. Sheep were responsible for all encounters in which the two species came closer than 50m to each other. The encounters were brief, body contact never occurred, they were not concentrated at saltlicks and chamois mainly ended them. The results suggest that the presence of sheep had little effect on the chamois. However, competition between the two species could still be occurring over a longer time scale. Finally, we found that the risk of inter-specific transmission of IKC through direct body contact is likely to be low, but the risk through indirect means (flies or aerosols) remain

A new handheld electromagnetic cortical stimulator for brain mapping during open skull neurosurgery: a feasibility study

Transcranial magnetic stimulations have provided invaluable tools for investigating nervous system functions in a preoperative context; in this paper we propose an innovative tool to extend the magnetic stimulation to an open skull context as a promising approach to map the brain cortex. The present gold standard for intraoperative functional mapping of the brain cortex, the direct brain stimulation, has a low spatial resolution and limited penetration and focusing capabilities. The magnetic stimulatory device that we present, is designed to overcome these limitations, while working with low currents and voltages. In the present work we propose an early study of feasibility, in which the possibility of exploiting a train of fast changing magnetic fields to reach the neuron's current thresholds is investigated. Measurements of electric field intensity at different distances from the coil, showed that the magnetic stimulator realized is capable of delivering an electric field on a loop of wire theoretically sufficient to evoke neuron's action potential, thus showing the approach' feasibility

Tid Mekii : a rapid and quantitative diagnostic system for malaria

DOTTORATOLa malaria è una malattia parassitaria pericolosa per la vita che causa oltre 400 mila morti ogni anno, il 61% delle quali sono bambini di età inferiore ai 5 anni. La lotta contro la malaria richiede miliardi di dollari ogni anno, rappresentando un onere insopportabile che esaspera la già difficile situazione economica della maggior parte dei paesi in cui la malaria è endemica. Nonostante siano stati fatti molti sforzi nella ricerca di farmaci antimalarici e metodi di prevenzione, l'insorgenza di resistenza ai farmaci e di adattamenti nelle abitudini delle zanzare rischiano di renderli vani. In questa perpetua lotta, gli strumenti diagnostici rappresentano una guida fondamentale per un trattamento tempestivo e adeguato della malattia, contribuendo a ridurre il tasso di mortalità e contrastando il verificarsi di adattamenti del parassita agli antimalarici. Il panorama dei metodi diagnostici attuale vede tre tecniche principali: indagine al microscopico, test diagnostico rapido e diagnosi basata sulla reazione a catena della polimerasi. I loro costi, complessità e requisiti di tempo, tuttavia, non sono sempre adeguati per consentirne un'ampia diffusione e per supportare il bisogno costante. È proprio per affrontare questa mancanza che la stessa Organizzazione Mondiale della Sanità richiede lo sviluppo di nuove tecniche diagnostiche a basso costo, facili da usare e affidabili. L'innovativo sistema sviluppato, qui presentato, mira a supportare questa richiesta proponendo strumenti diagnostici panplasmodici, quantitativi, facili da usare, rapidi e potenzialmente a basso costo. Il nome stesso del progetto, Tid Mekii, il nome della malaria in lingua camerunense, mette in luce l'obiettivo e lo scopo di fornire un'alternativa rapida e valida ai metodi attuali, garantendo nel contempo un basso costo per garantire la sua ampia diffusione nei paesi endemici più poveri. La tecnica si basa sull'attrazione magnetoforetica selettiva e sulla conseguente rilevazione e quantificazione impedenziometrica dei globuli rossi infetti da malaria (iRBC). I test eseguiti con il dispositivo dimostrano una capacità di rilevazione e quantificazione sia di cristalli di emozoina (HC), ovvero il pigmento della malaria, sia di iRBC fino a concentrazioni pari a, rispettivamente, 104 HC / ul e 10 iRBC / ul, in meno di 10 minuti. La possibilità di eseguire un follow-up del trattamento e discriminare tra le diverse fasi della malattia è stata dimostrata, sebbene sia necessario un ulteriore studio dedicate per confermare detta funzionalità. Una convalida preclinica è stata effettuata presso Hopital Saint Luc di Mbalmayo, Camerun, Africa su 108 pazienti sospetti malarici. I risultati di questo studio mostrano l'assenza di falsi negativi (sensibilità del 100%) e la presenza di pochi falsi positivi (specificità del 65,5%). Tuttavia, le elevate differenze inter-pazienti nelle proprietà del sangue hanno impedito un'accurata quantificazione della parassitemia. Questi risultati dimostrano la possibilità che lo strumento e la tecnica sviluppati diventino un utile e valido dispositivo diagnostico in grado di competere con quelli attualmente disponibili e fornire una valida alternativa ad essi. L'idea e il dispositivo qui presentati sono stati oggetto di due domande di brevetto sociale in cui gli inventori rinunciano a qualsiasi ricavo derivante dal suo sfruttamento il quale deve essere reinvestito a scopi sociali.Malaria is a life-threatening parasitic disease killing more than 400 thousands people every year, 61% of which are children aged under 5 years old. The fight against malaria demands billions of USD each year representing an unbearable burden which exasperate the already difficult economic situation of most of the malaria endemic countries. Despite many efforts have been put into the research of antimalarial drugs and prevention methods, the onset of drug resistance and the mosquito habits adaptations risk of putting them in jeopardy. In this ongoing struggle, diagnostic tools represent a fundamental guidance for a prompt and proper treatment of the disease, helping to reduce the mortality rate and counteracting the occurrence of adaptations of the parasite to antimalarials. The panorama of currently diagnostic methods sees three main techniques: microscopy examination, rapid diagnostic test and polymerase chain reaction based diagnosis. Their cost, complexity and time requirements, however, are not always adequate to allow a wide spread to support the constant need. It is precisely to face this lack that the World Health Organization itself calls for development of low cost, easy to use and reliable new diagnostic techniques. The developed innovative system here presented is aimed to support this request by proposing a panplasmodic, quantitative, easy to use, rapid and potentially low cost diagnostic tools. The name of the project itself, Tid Mekii, the name of the malaria in Cameroon language, highlights its aim and purpose to provide a rapid and valid alternative up to the actual devices and methods while ensuring a low cost to guarantee its wide spread in the poorest endemic countries. The technique relies on the selective magnetophoretic attraction and consequent electrical impedance detection and quantification of malaria infected red blood cells (iRBCs). The tests performed with the device demonstrate its capability of detecting and quantify both hemozoin crystals (HCs), i.e. the malaria pigment, and iRBCs concentrations down to, respectively, 104 HCs/ul and 10 iRBCs/ul in less than 10 minutes. The possibility to perform a follow up of the treatment and discriminating between different stages of the disease has emerged although further dedicated investigations are required to confirm said features. A preclinical validation have been carried out at Hopital Saint Luc of Mbalmayo, Cameroon, Africa on 108 suspected malaria patients. The outcomes of this study show the absence of false negatives (100% sensitivity) but few false positives occurrences (65.5% specificity). However, the high inter-patient differences in blood properties prevented an accurate quantification of the parasitaemia. These results prove the possibility of the developed instrument and technique to become a reliable and useful diagnostic tool up to the task of competing with currently available ones and providing a valid alternative to them. The idea and the device here presented have been the subject of two social patent applications in which the inventors give up any revenues deriving from its exploitation which should be reinvested for social purposes.DIPARTIMENTO DI ELETTRONICA, INFORMAZIONE E BIOINGEGNERIAElectronics32FIORINI, CARLO ETTOREPERNICI, BARBAR

Describing the gingival involvement in a sample of 182 Italian predominantly oral mucous membrane pemphigoid patients : a retrospective series

The oral cavity has been frequently described as the only site of involvement or as the first manifestation of mucous membrane pemphigoid (MMP), being the gingival tissues often involved, but usually this has been effusively detailed in limited case series. This is a retrospective evaluation of the gingival involvement in 182 Italian patients with oral MMP. The diagnosis of MMP was established by both clinical morphology and direct immunofluorescence finding. Patient information (age, gender, risk factors and medical status) and parameters of manifestation (lesions? distribution, site and type) were detailed. The mean age was 62 years for women (n=137) and 67 years for men (n=45). Patients had several sites of oral involvement; the gingiva was the most common one, affecting 151 patients (82.96%; 119 f - 32 m). Female subjects had more possibilities to develop gingival lesions than male patients (P = 0.005). Sixty-five patients (35.7%; 58 f - 7 m) had pure gingival involvement. Patients with lower gingival involvement statistically had more complaints (P = 0.006). This report is one of the largest about predominantly oral MMP cases, detailing the very frequent gingival involvement; this could be crucial not only for oral medicine specialists but also for primary dental healthcare personnel and for periodontists

The Use of Fiberoptic Bronchoscopy During Percutaneous Dilatational Tracheostomy With Laryngeal Mask

The aim of our research is to evaluate the advantage by the combined use of fiberoptic bronchoscopy and laryngeal mask during the performance of percutaneous dilatational tracheostomy in an intensive care unit

Health impact assessment of major collective events: an overview of the available experiences

Background: major sporting and cultural events are a sensitive political and social issue. The aim of this study was to perform a critical review of the international literature regarding health impact assessment (HIA) studies of major events to identify all the health indicators available in the literature. Methods: we drew up a review of available literature on HIAs pertaining to major sports and cultural events. The papers obtained were read and then assessed in relation to the inclusion criteria, and the health indicators used were listed and commented upon. Results: we found three published HIA reports. One is a full report, and the other two are a screening report and a rapid HIA report. Through a detailed analysis, it has been possible to develop a set of indicators that can be used for future HIAs on major sporting and cultural events. Conclusions: reports of HIAs for major events that are available online identify several health impacts. In the pre-event phase, negative effects are predominant; in the post-event period, positive impacts prevail. The characteristics of the different stakeholders involved in the events play an important role in the evaluation process