Hyaluronic acid alters vessel behavior in CXCL12-treated HUVECs

Hyaluronic acid (HA) is a key component of the extracellular matrix known for absorbing water, swelling, and altering solid stress of tumors. HA’s anionic behavior may provide important biochemical effects toward tumor progression as well. Tumors obtain nutrients by relying on signaling molecules such as CXCL12 to recruit blood vessels and promote vessel leakage. Recent work suggests that additional positively-charged residues on CXCL12’s β and γ isoforms cause different biochemical functionality compared to the well-studied α isoform. These studies aimed to determine whether the presence of HA in a tumor’s microenvironment could alter the relative response strength of CXCL12’s various isoforms on blood vessel sprouting and apparent vascular permeability. The vessel microenvironment was modeled using a 3-channel microfluidic device with Human Umbilical Vein Endothelial Cells (HUVECs) in the outer channels forming monolayers against a 3D collagen or collagen/HA matrix in the center channel. HUVECs were cultured with media containing recombinant CXCL12 (α, β or γ). Results show that total HUVEC sprouting area follows an α>β>γ trend in isoform-treated HUVECs within a collagen matrix, matching the binding affinity order of CXCL12 to endothelial CXCR4 receptors. The presence of HA decreased overall sprouting response but shifted pro-angiogenic potency towards CXCL12’s γ isoform. Vascular permeability studies also showed an α>β>γ trend for HUVECs in collagen. With HA added, control and α-treated HUVECs became less permeable while γ-treated HUVECs became more permeable. Overall results suggest that an HA-infused collagen matrix facilitates γ isoform binding, leading to a stronger isoform-specific vessel response. Knowing how HA impacts CXCL12 isoform potency on vessels will help in the future design of CXCL12-targeted cancer therapies.The American Heart AssociationInstitute for Materials Research at OSULumley Engineering FundPelotoniaA one-year embargo was granted for this item.Academic Major: Chemical Engineerin

Upward only rent reviews versus indexation: an investigation into the impact of differing mechanisms upon market efficiency within the commercial real estate sector

The purpose of this study was to investigate whether the traditional, upward-only rent review clauses in English commercial leases can be replaced by rent indexation. Analysis of the existing literature found widespread criticism of upward-only rent reviews. Most importantly, they represent a disadvantage for tenants and an advantage for landlords. Contrary to this, analysis of the qualitative data, gathered through semi-structured interviews with professionals, showed that property market forces have shifted. This leaves tenants in a stronger negotiation position. A clear trend towards shorter leases and break options as opposed to rent review mechanisms. The evidence within the study suggests that the Codes of Leasing Practice have not had a significant impact on the flexibility of commercial leases. The findings of the study indicate that the Government should not legislate against upward-only rent reviews as this could have major negative impacts on the property market. Indexation was found to be a fair and reasonable option for both landlords and tenants. However, the exclusive use of indexation in commercial leases would lead to a distortion of the property market as the determination of market rents and values would be impossible. The principal conclusion of this dissertation was that the self-adjustment of the market, which led to a higher flexibility in commercial leases, made a restriction of upward-only rent reviews unnecessary. Moreover, rent indexation is a well-established rent review mechanism in England – a tool whereby both parties can benefit. An exclusive use of indexation in commercial leases though seems most unlikely

Poverty reduction and rural finance: From unsustainable programs to sustainable institutions with growing outreach to the poor

Only relief achieves short-term poverty reduction, but is ineffective in the long run. Sustainable poverty reduction can only be attained through well-designed long-term development measures. For example, Indonesia is considered one of the most successful countries with regard to poverty reduction. Between 1970 and 1996, it reduced poverty from 60% to 11.5% of its population, a time span of a quarter century during which local financial institutions expanded rapidly. The Asian financial crisis led to a set-back, but also became the departure point for a more sustainable institutional system. (Getubig, Remenyi and Quinones 1997:89; Seibel and Schmidt 1999:8-10) All our experience tells us: there is no short-cut to sustainable poverty reduction and development; and certainly none outside a solid, prudentially regulated institutional framework. --

Microfinance Strategies: Strategies for developing viable microfinance institutions and sustainable microfinancial services in Asia

In most Asian countries including Vietnam, inadequate access of small farmers and microentepreneurs including women and the poor to effective financial services presents a major challenge. Such services must include facilities to deposit microsavings, access to microcredit for production, consumption and emergencies, and the provision of some basic insurance. Only viable financial institutions with sound practices will be able to respond to the evergrowing demand of the microeconomy for such services and to contribute to its growth. --

What Matters in Rural and Microfinance

Due to the overall failure of donor-driven subsidized directed credit administered by government-owned development finance institutions, the emphasis in development policy has shifted to (rural) financial systems development and the building of self-reliant, sustainable institutions. While savings-based self-help groups and member-managed small cooperatives are more appropriate to remote and marginal areas, there is little to further differentiate rural and urban microfinance. Regardless of ownership, type of institution, and rural or urban sphere of operation, they ultimately all have to: - Mobilize their own resources through savings - Have their loans repaid - Cover their costs from their operational income - Finance their expansion from their profits. Three worlds of finance continue to exist, in which donors may intervene in very different ways: - The old world of donor-driven development finance, which need to be transformed into sustainable institutions - A new world of development finance, comprising viable formal and semiformal institutions with a commercial orientation, which do not, or not fully, rely on donor support for expansion - Informal financial institutions of ancient or recent origin, based on principles of self-reliance and viability with their potential for innovation and mainstreaming, to which donors may contribute.. There a numerous notable new developments in R/MF; but in the majority of countries, there are still major shortcomings that call for country-driven, coordinated interventions. Donors with their projects are found in both worlds; but there is an overall move from the old world of supply-driven development finance to the new world of demand-driven commercial finance. --

Microfinance for the Poor: Can Miracles be Repeated: in the Philippines, Kosovo, and elsewhere?

Bangladesh is one of the poorest countries in the world; and women in that country are among the poorest of the poor. In the late 1970s, a man performed a miracle there. With a few loans out of his own pocket in 1976, Professor Yunus proved to himself that even the most downtrodden are able to pull themselves out of dire poverty. By planting a vegetable garden, buying a cow or opening a small store, these women are able to make a profit, feed their family and repay their loan with interest. He then took his message to Rome where the International Fund for Agricultural Development (IFAD) had just been established, with the mandate of poverty alleviation in the poorest countries. With his enthusiasm, he convinced IFAD that a loan to the Grameen Bank, as he called his venture, would be a good investment and greatly help to reduce poverty in Bangladesh. IFAD?s loan turned out to be a door-opener for many other donors, including the World Bank. Today, some twenty years later, the Grameen Bank is one of the world?s most successful financial institutions banking with the poor. It provides standardized loans to some two million women, organized in small groups of women who mutually guarantee their loans and repay them in 54 weekly instalments. --

Equity participation in financial intermediaries: a new donor instrument in rural finance? A proposal submitted to the International Fund for Agricultural Development, Rome

The IFAD Rural Finance Policy lists among the initiatives to be supported commercially-operated apex organizations for refinancing MFIs (para. 20) and stipulates that, Equity financing through appropriate apex institutions may be developed by IFAD as a new instrument, which would provide the much-needed external capital and leverage multiples of domestic capital. (para. 32) Equity participation, which avoids some of the pitfalls of credit lines, strengthens the capital base of apex funds and rural financial institutions and leverages additional domestic resources in the form of savings deposits or additional equity. It may also be used to fulfil legal minimum capital requirement when transforming non-formal institutions into formal entities. (para. 44) Examples given of autonomous apex funds are the Social Capital Fund in Argentina, the Palli Karma-Sahayak Foundation in Bangladesh, and the People?s Credit and Finance Corporation in The Philippines (para.32). IFAD may also invest in larger-size financial intermediaries, among them microenterprise banks and rural banks as well as agricultural development banks and some commercial banks, which either refinance smaller rural financial institutions or lend directly to IFAD?s target group. --

IFAD Rural Finance Policy

Two thirds of the Fund?s current projects have a rural finance component; about 21% of the Fund?s resources are dedicated to rural finance.2 Most of IFAD?s target group are small producers engaged in agric ultural and non-agricultural activities in areas of widely varying potential. Direct access to financial services affects the small producers? productivity, asset formation, income and food security. This policy paper is designed to provide an overall framework for the Fund?s work in rural finance. On that basis, operational guidelines and regional strategies will be prepared in due course for the use of staff, consultants and partner institutions, with scope both for innovations and for consolidation of successful existing practices. --

Enhancing the Resilience of Microfinance Institutions and Programs: Lessons Learned from the Asian Financial Crisis

The evidence from selected Asian countries shows that: ? Microfinance on the whole has weathered the crisis well. The strongest of the microfinance systems in the region, the BRI unit system in Indonesia, has emerged from the crisis even stronger than before, characterized by a surge in savings deposits and continued excellent repayment performance. ? Demand for microcredit has not increased; there are some cases, as in the BRI units, where it has declined; in other cases, as among some Grameen replicators in the Philippines, neither the demand for, nor the supply of, microcredit seem to be affected. The resilience of microfinance in crisis situations, just as in normal times, appears to be most strongly influenced by three major factors: ? the institutional autonomy and self-reliance of MFIs in terms of internal resource mobilization and operational terms and conditions ? negatively by financial repression, comprising interest rate regulation, a lack of legal forms for MFIs, and a preponderance of subsidized targeted program credit which in one form or the other has persisted in every country ? positively by the deregulation of interest rates, institutional liberalization and the provision of appropriate legal forms for MFIs, accompanied by prudential regulation and effective supervision (the lack of which was a major factor in the downfall of the banking sector in the affected Asian countries). --

Linkages between Banks and Microfinance Institutions in Mali: A Case Study

Mali, with a population of 11.7m, 70 percent rural, is located in the Sahel zone of West Africa. With a per capita income of US$245 and a Human Development Index rank of 174, it is among the poorest countries in the world, highly vulnerable to external impacts. --