Human PP11 (placental protein 11) was previously described as a serine protease specifically expressed in the syncytiotrophoblast and in numerous tumor tissues. Several PP11-like proteins were annotated in distantly related organisms, such as worms and mammals, suggesting their involvement in evolutionarily conserved processes. Based on sequence similarity, human PP11 was included in a protein family whose characterized members are XendoU, a Xenopus laevis endoribonuclease involved in small nucleolar RNA processing, and Nsp15, an endoribonuclease essential for coronavirus replication. Here we show that the bacterially expressed human PP11 displays RNA binding capability and cleaves single stranded RNA in a Mn 2Ű -dependent manner at uridylates, to produce molecules with 2,3-cyclic phosphate ends. These features, together with structural and mutagenesis analyses, which identified the potential active site residues, reveal striking parallels to the amphibian XendoU and assign a ribonuclease function to PP11. This newly discovered enzymatic activity places PP11-like proteins in a completely new perspective. PP11 (placental protein 11) is one of the five glycoproteins (together with PP8, PP9, PP10, and PP12) that were first isolated from aqueous extracts of human term placentas in the 1980s. Unlike PP8 and PP9, which were found in relatively high concentrations in all tissues analyzed, PP10, PP11, and PP12 were supposed to be specific to the placentas, since they could not be detected in extracts of other human tissues (1, 2). Interestingly, it was shown that the placenta-specific proteins were also expressed in several tumor tissues; PP11 was detected in 66.7% of the analyzed mucinous cystadenocarcinomas and in 57.1% of serous cystadenocarcinomas tested, whereas it was not found in normal ovaries (3). Moreover, PP11 was also found in 47% of all breast cancers examined (4) and in 38% of all testicular and gastric cancers studied (5). These results suggested