The antioxidant activity of caeruloplasmin can be mainly ascribed to its ferroxidase activity which effectively inhibits ferrous ion-stimulated lipid peroxidation and ferrous ion-dependent formation of hydroxyl radicals in the Fenton reaction. In addition, caeruloplasmin can prevent copper ions from stimulating lipid peroxidation.
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John M.C. Gutteridge (1983) studied this question.
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