The recent characterization of an acetylcholine binding protein (AChBP) from the fresh water snail, Lymnaea stagnalis, shows it to be a structural homolog of the extracellular domain of the nicotinic acetylcholine receptor (nAChR). To ascertain whether the AChBP exhibits the recognition properties and functional states of the nAChR, we have expressed the protein in milligram quantities from a synthetic cDNA transfected into human embryonic kidney (HEK) cells. The protein secreted into the medium shows a pentameric rosette structure with ligand stoichiometry approximating five sites per pentamer. Surprisingly, binding of acetylcholine, selective agonists, and antagonists ranging from small alkaloids to larger peptides results in substantial quenching of the intrinsic tryptophan fluorescence. Using stopped-flow techniques, we demonstrate rapid rates of association and dissociation of agonists and slow rates for the ␣-neurotoxins. Since agonist binding occurs in millisecond time frames, and the ␣-neurotoxins may induce a distinct conformational state for the AChBP-toxin complex, the snail protein shows many of the properties expected for receptor recognition of interacting ligands. Thus, the marked tryptophan quenching not only documents the importance of aromatic residues in ligand recognition, but establishes that the AChBP will be a useful functional as well as structural surrogate of the nicotinic receptor.Ligand-gated ion channels, of which the nicotinic acetylcholine receptor is a prototypic structure, are composed of five subunits whose ␣-carbon chains traverse the membrane four times (1, 2); their hydrophobicity and size preclude conventional structural studies at atomic resolution by x-ray crystallography or nuclear magnetic resonance spectrometry. Recently, an acetylcholine binding protein (AChBP) 1 from the fresh water snail, Lymnaea stagnalis, has been characterized, crystallized, and its structure determined (3, 4). The crystal structure shows virtually all of the features predicted from a host of affinity labeling, site-specific mutagenesis, and subunit assembly studies conducted on the nicotinic receptor for over 2 decades (1, 2, 5). Although the isolated protein shares ligand recognition characteristics with its closest mammalian homolog, the pentameric ␣7 receptor (4), details on its ligand specificity, binding kinetics, and conformational changes remain unknown. These questions are critical to ascertaining whether the snail protein has the recognition properties and conformational states to serve as a functional as well as a structural surrogate of the extracellular domain of the nicotinic receptor. To this end, we have expressed the binding protein in a mammalian system from a chemically synthesized cDNA of 637 bp. The cDNA contains restriction sites at various locations to allow for substitution of encoding receptor segments into the cDNA template of the binding protein. Upon ligand binding, AChBP shows major changes in fluorescence emitted from five tryptophans on each subunit, providing an i...