Mouse placental cells have been isolated and grown in cultures. These cells produce a procoagulant which is identical to thromboplastin (factor III) by two criteria. The procoagulant activity increases with time, culminating on the 5th day of culture. The increase is inhibited by cycloheximide, Α-amanitin, and actinomycin D, showing that de novo synthesis of protein and RNA is neccessary. About 90–95% of the total cellular thromboplastin activity in whole cells is available for inactivation by particle-bound trypsin and thus present on the cell surface. Endotoxin and phytohaemagglutinin did not further increase the procoagulant activity.