Thermolysin-like specificity, but is almost confined on acting on polypeptides of up to 30 amino acids. Biologically important in the destruction of opioid peptides such as Met- and Leu-enkephalins by cleavage of a Gly-Phe bond. Able to cleave angiotensin-1, angiotensin-2 and angiotensin 1-9. Displays UV-inducible elastase activity toward skin preelastic and elastic fibers (By similarity). Involved in the degradation of atrial natriuretic factor (ANF) (PubMed:2966343).