Involved in catabolism of purines. The enzyme from the bacterium Arthrobacter allantoicus can use both NAD+ and NADP+ with similar activity. cf. EC 1.1.1.350, ureidoglycolate dehydrogenase (NAD+).
Enzymatic reactions [BR:br08201]
1. Oxidoreductase reactions
1.1 Acting on the CH-OH group of donors
1.1.1 With NAD+ or NADP+ as acceptor
1.1.1.154
R02936 (S)-Ureidoglycolate + NADP+ <=> Oxalureate + NADPH + H+