Metalloprotease which may be important for placentation by regulating biological activity of key peptides at the embryo-maternal interface (By similarity). Involved in coat pigmentation patterns. During skin development, may be required to establish the periodicity of tabby markings, initiating a pre-pattern at or before hair follicle development (PubMed:22997338). Binds 1 zinc ion per subunit. Expressed in skin. Expression levels do not differ between dark and light skin areas. A frameshift variant at position 997 (p.Asn977LysfsTer110) has been shown to cosegregate with the king coat pattern, a rare phenotype in which spots coalesce into blotches and stripes. This polymorphism was not detected in almost 220 spotted cheetahs. Belongs to the peptidase M1 family.