Involved in the biosynthesis of prenylated phenolics natural products which contribute to the bitter taste of beer and display broad biological activities (Probable). Involved in anthocyanin biosynthesis (By similarity). Polyketide binding proteins (PBP) which reduces the catalytic activities of CHS_H1 and PT1L and prevents demethylxanthohumol (DMX) production, by binding to DMX and naringenin chalcone (NC) to stabilize the chalconoids ring-opened structure (PubMed:29760092). a chalcone = a flavanone. Secondary metabolite biosynthesis; flavonoid biosynthesis. Mostly expressed in glandular trichomes (lupulin glands), and, to a lower extent, in cones, cones bracts, leaves, stems and roots. Belongs to the chalcone isomerase family.