The step of protein synthesis which is normally rate limiting, formati
on of the 48S initiation complex, is catalyzed by the group 4 initiati
on factors. Collectively they recognize the 7-methylguanosine-containi
ng cap of mRNA, unwind mRNA secondary structure, and allow scanning fo
r the initiation codon by the small ribosomal subunit. The activities
of the eIF-4 polypeptides are modulated by phosphorylation. Recent stu
dies shed new light on the mechanism of assembly of the 48S initiation
complex and the effect of phosphorylation of one of the eIF-4 polypep
tides, the cap-binding protein eIF-4E.