This gene encodes a protein that is a member of the M49 family of metallopeptidases. This cytoplasmic protein binds a single zinc ion with its zinc-binding motif (HELLGH) and has post-proline dipeptidyl aminopeptidase activity, cleaving Xaa-Pro dipeptides from the N-termini of proteins. Increased activity of this protein is associated with endometrial and ovarian cancers. Alternate transcriptional splice variants have been characterized.Synonyms: DPPIII, Dipeptidyl aminopeptidase III, Dipeptidyl arylamidase III, Dipeptidyl-peptidase 3, Dipeptidyl-peptidase III