Hydrolyzes a wide range of dipeptides including the conversion of leukotriene D4 to leukotriene E4. Hydrolyzes cystinyl-bis-glycine (cys-bis-gly) formed during glutathione degradation. Possesses also beta lactamase activity and hydrolytically inactivates beta-lactam antibiotics. Independently of its dipeptidase activity acts as an adhesion receptor for neutrophils recruitement from bloodstream into inflammed lungs and liver.
