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In this study, superparamagnetic iron oxide nanoparticles (SPIONs) were engineered with an organic coating composed of low molecular weight heparin (LMWH) and bovine serum albumin (BSA), providing heparin-based nanoparticle systems (LMWH@SPIONs). The purpose was to merge the properties of the heparin skeleton and an inorganic core to build up a targeted theranostic nanosystem, which was eventually enhanced by loading a chemotherapeutic agent. Iron oxide cores were prepared via the co-precipitation of iron salts in an alkaline environment and oleic acid (OA) capping. Dopamine (DA) was covalently linked to BSA and LMWH by amide linkages via carbodiimide coupling. The following ligand exchange reaction between the DA-BSA/DA-LMWH and OA was conducted in a biphasic system composed of water and hexane, affording LMWH@SPIONs stabilized in water by polystyrene sulfonate (PSS). Their size and morphology were investigated via dynamic light scattering (DLS) and transmission electron microscopy (TEM), respectively. The LMWH@SPIONs’ cytotoxicity was tested, showing marginal or no toxicity for samples prepared with PSS at concentrations of 50 µg/mL. Their inhibitory activity on the heparanase enzyme was measured, showing an effective inhibition at concentrations comparable to G4000 (N-desulfo-N-acetyl heparin, a non-anticoagulant and antiheparanase heparin derivative; Roneparstat). The LMWH@SPION encapsulation of paclitaxel (PTX) enhanced the antitumor effect of this chemotherapeutic on breast cancer cells, likely due to an improved internalization of the nanoformulated drug with respect to the free molecule. Lastly, time-domain NMR (TD-NMR) experiments were conducted on LMWH@SPIONs obtaining relaxivity values within the same order of magnitude as currently used commercial contrast agents.

Borrowing from the interbank contagion literature, we propose a model to study the stability of non-life insurance sector in presence of catastrophic events. These events are increasingly common, and cause a large amount of damage in short periods. To account for this risk we introduce random and correlated reinsurance claims. We show in a simulation study that the sector is particularly sensitive to random correlated insurance claims, and the threat of systemic risk emerges. The risk persists even with highly diversified network structures. The work is relevant for regulators to define macro-prudential policies, and for practitioners to measure credit risk.

Water contamination by emerging contaminants is increasing in the context of rising urbanization, industrialization, and agriculture production. Emerging contaminants refers to contaminants for which there is currently no regulation requiring monitoring or public reporting of their presence in our water supply or wastewaters. There are many emerging contaminants such as pesticides, pharmaceuticals, drugs, cosmetics, personal care products, surfactants, cleaning products, industrial formulations and chemicals, food additives, food packaging, metalloids, rare earth elements, nanomaterials, microplastics, and pathogens. The main sources of emerging contaminants are domestic discharges, hospital effluents, industrial wastewaters, runoff from agriculture, livestock and aquaculture, and landfill leachates. In particular, effluents from municipal wastewater treatment plants are major contributors to the presence of emerging contaminants in waters. Although many chemicals have been recently regulated as priority hazardous substances, conventional plants for wastewater and drinking water treatment were not designed to remove most emerging contaminants. Here, we review key examples of contamination in China, Portugal, Mexico, Colombia, and Brazil. Examples include persistent organic pollutants such as polychlorinated biphenyls, dibenzofurans, and polybrominated diphenyl ethers, in lake and ocean ecosystems in China; emerging contaminants such as alkylphenols, natural and synthetic estrogens, antibiotics, and antidepressants in Portuguese rivers; and pharmaceuticals, hormones, cosmetics, personal care products, and pesticides in Mexican, Brazilian, and Colombian waters. All continents are affected by these contaminants. Wastewater treatment plants should therefore be upgraded, e.g., by addition of tertiary treatment systems, to limit environmental pollution.

The paper considers the pricing of credit default swaps (CDSs) using a revised version of the credit risk model proposed in Cathcart and El-Jahel (2003). Default occurs either the first time a signaling process breaches a threshold barrier or unexpectedly at the first jump of a Cox process. The intensity of default depends on the risk-free interest rate, which follows a Vasicek process, instead of a Cox-Ingersoll-Ross process as in the original model. This offers two advantages. On the one hand, it allows us to account for negative interest rates which are recently observed, on the other hand, it simplifies the formula for pricing CDSs. The goodness of fit of the model is tested using a dataset of CDS credit spreads related to European companies. The results obtained show a rather satisfactory agreement between theoretical predictions and market data, which is identical to the one obtained with the original model. In addition, the values of the calibrated parameters result to be stable over time and the semi-closed form solution ensures a very fast implementation.