Annexin A1 (also known as lipocortin-1) is a membrane-localized protein capable of binding phospholipids. It functions as an inhibitor of phospholipase A2 (PLA2) and exhibits potent anti-inflammatory activity. Loss of function or aberrant expression of this gene has been detected in a variety of tumors. Phospholipase A2 is essential for the biosynthesis of potent inflammatory mediators, namely prostaglandins and leukotrienes. By virtue of its PLA2 inhibitory activity, lipocortin-1 acts as a key anti-inflammatory protein.