The protein encoded by this gene is a phospholipase that hydrolyzes phosphatidic acid to produce lysophosphatidic acid. Defects in this gene are a cause of susceptibility to familial hypertrigliceridemia. This gene is also expressed at high levels in Ewing family tumor cells. Alternative splicing results in multiple transcript variants.LIPI (Lipase I) is a Protein Coding gene. Diseases associated with LIPI include Hypertriglyceridemia and Listeriosis. Among its related pathways are Lipoprotein metabolism and Metabolism. GO annotations related to this gene include heparin binding and phospholipase activity. An important paralog of this gene is LIPH.