Streptolysin O is a member of a family of membrane-damaging toxins tha
t bind to cell membranes containing cholesterol and then polymerize to
form large pores. We have examined the kinetics of toxin action using
I-125-labelled streptolysin O. Binding of toxin monomers to membranes
displays first-order kinetics and is reversible, the rate of desorpti
on from red cells shows a marked dependence on temperature. To study o
ligomerization, toxin was bound to erythrocytes at 0 degrees C. Oligom
er formation was then triggered by a sudden temperature shift and stop
ped by solubilization of membranes with deoxycholate. While at moderat
ely high streptolysin O concentrations oligomerization behaves as a re
action of second order, the kinetic pattern changes with increasing to
xin concentration. We show that this can be accounted for by the assum
ption of a two-step reaction mechanism: two membrane-bound monomers fi
rst associate into a start complex, which then is rapidly extended by
the sequential addition of further monomers up to the final oligomer s
ize.