 Michaelis constant

The substrate concentration giving half the limiting reaction rate in the Michaelis-Menten equation. In the elementary mechanism $E+S\rightleftharpoons ES\to E+P$, it is $K_M=(k_{-1}+k_{\mathrm{cat}})/k_1$ under the quasi-steady-state approximation, whereas the binding dissociation constant is $K_d=k_{-1}/k_1$.