In the past several years the clinical potential of vanadium compounds in the treatment of type II diabetes has changed from low to high because of the introduction of an organic chelate of oxovanadium(IV) known as KP-102 into phase I trials (1). Studies in both laboratory animals and in humans have now convincingly demonstrated the lowering effects of vanadium compounds on blood glucose levels (2-5). It has also been shown that the organic chelated vanadyl (VO 2ϩ ) compounds illustrated in Fig. 1 exhibit significantly enhanced insulin-mimetic activity in diabetic laboratory animals compared with that of inorganic VO 2ϩ introduced as VOSO 4 (6 -8). Because the capacity of organic chelates of VO 2ϩ to lower blood glucose is equivalent whether administered gastrointestinally or intraperitoneally (6), the enhanced insulin-mimetic action compared with that of VOSO 4 cannot be due only to increased lipophilicity, facilitating transport across the intestinal wall. The insulin-mimetic action of these organic chelates must be the result of how the organic moiety modulates the intrinsic chemical properties of the VO 2ϩ ion. While pH-dependent speciation of organic chelates observed on the basis of EPR spectra has been ascribed to rearrangements of the organic ligand moieties and displacement by solvent molecules (9 -11), it is not known whether these equilibria influence insulin-mimetic action. Furthermore, the physiologically active form of chelated VO 2ϩ in the blood stream is not established. An important observation made by Chasteen and co-workers (12) shows that VO 2ϩ , when given as VOSO 4 by gastric intubation to laboratory rats, distributes itself in circulating plasma between the two major isoforms of the serum transferrins in proportion to the amount administered. Although serum albumin and transferrin bind VO 2ϩ tightly in the micromolar range (13-16), it is difficult to ascribe the enhanced glucose-lowering capacity of organic VO 2ϩ complexes simply to the "stripping" out of the VO 2ϩ ion from its chelate ligand environment to form protein-bound VO 2ϩ in the blood stream. Such action would be likely to render organic VO 2ϩ complexes no more potent in glucose-lowering capacity than VOSO 4 itself. Since the serum transport proteins albumin, transferrin, and transthyretin bind a variety of organic ligands, e.g. fatty acids, steroids, and thyroxine hormone as carrier molecules in circulating blood (17-20), we would argue that the organic moiety of VO 2ϩ chelates likely also facilitates binding to serum transport proteins. For this reason in these initial studies, we have investigated the potential of organic chelates of VO 2ϩ , namely VO(acac) 2 , 1 compound b in Fig. 1, to form adducts with serum albumin of defined stoichiometry. We have also analyzed the spectroscopic properties of VO(acac) 2 by EPR and ENDOR spectroscopy to determine the stoichiometry of the organic ligand bound to VO 2ϩ as a function of pH. To investigate whether serum proteins have an influence on the insulin-mimetic action of VO 2ϩ chelates...