Immunoglobulin M biosynthesis was studied with mouse plasma cell tumour MOPC 104E as a model system. Cell suspensions prepared from solid tumours were incubated in vitro with tritiated leucine; the radioactivity incorporated into intracellular and secreted proteins was analysed by polyacrylamide-gel electrophoresis, sucrose-density-gradient centrifugation and precipitation with rabbit antiserum specific for the macroglobulin. The tumour was found to secrete immunoglobulin M and light chains in a 1:2 weight ratio, with lag periods of 20-30min. Within the cells there was a 7s component precipitable with specific antiserum to the macroglobulin that was shown to consist of heavy and light chains. This 7s subunit of the macroglobulin appeared to accumulate in the intracellular environment, so that even after long periods of incubation (3hr.) no more than trace amounts of fully assembled 19s molecules could be detected in cell lysates. Polymerization of the subunits into the pentamer therefore appears to take place shortly before, or simultaneously with, secretion of the molecules.