Properdin plays a key role in the alternative pathway by stabilizing t
he C3 convertase. This review chronicles the evolution of our knowledg
e of the structure and function of properdin over the 40 years since i
ts discovery. The story begins with the first description of properdin
and the controversy that ensued over its existence. Then, this review
describes: the rediscovery and acceptance of properdin and the altern
ative pathway as important components of natural immunity; properdin s
tructure and molecular sequence; speculations on the significance of s
equence similarities to thrombospondin and other proteins, and properd
in biosynthesis. Finally, this review characterizes properdin deficien
cy. Properdin does indeed appear to play an important role in homeosta
sis.