The uncleaved, pro-form of nerve growth factor (proNGF) functions as a pro-apoptotic ligand for the p75 neurotrophin receptor (p75NTR). However, some reports have indicated that proneurotrophins bind and activate Trk receptors. In this study, we have examined proneurotrophin receptor binding and activation properties in an attempt to reconcile these findings. We show that proNGF readily binds p75NTR expressed in HEK293T cells but does not interact with TrkA expressed under similar circumstances. Importantly, proNGF activates TrkA tyrosine phosphorylation, induces Erk and Akt activation, and causes PC12 cell differentiation. We show that inhibiting endocytosis or furin activity reduced TrkA activation induced by proNGF but not that induced by mature NGF and that proNGF123, a mutant form of NGF lacking dibasic cleavage sites in the prodomain, does not induce TrkA phosphorylation in PC12 cells. Therefore, endocytosis and cleavage appear to be prerequisites for proNGF-induced TrkA activity. We also found that proBDNF induces activation of TrkB in cerebellar granule neurons and that proBDNF cleavage by furin and metalloproteases facilitates this effect. Taken together, these data indicate that under physiological conditions, proneurotrophins do not directly bind or activate Trk receptors. However, endocytosis and cleavage of proneurotrophins produce processed forms of neurotrophins that are capable of inducing Trk activation.The four mammalian neurotrophins comprise a family of related secreted factors required for differentiation, survival, development, and death of specific populations of neurons and non-neuronal cells. The effects of the neurotrophins are mediated by binding to TrkA, TrkB and TrkC receptor tyrosine kinases and to the p75 neurotrophin receptor (p75NTR) 4 . The Trk receptors play critical roles in mediating neuronal survival and growth and are important modulators of synaptic function (1). p75NTR is a component of distinct cell surface signaling platforms that function to induce apoptosis and mediate neuronal growth inhibition. However, p75NTR also acts as a Trk co-receptor that increases the binding specificity and affinity of Trk receptors for neurotrophins (2, 3).Neurotrophins are produced as proforms of ϳ240 amino acids that are cleaved by furins and proconvertases to yield mature neurotrophins of about 120 amino acids (4). The main functions ascribed to the neurotrophin prodomain include facilitating neurotrophin folding and directing neurotrophins to the regulated secretory pathway (5-7). Several recent studies have indicated that nerve growth factor (NGF) and brain-derived neurotrophic factor (BDNF) are secreted from cells as prodomain-containing forms (proNGF and proBDNF, respectively) (8 -10). In some types of primary neurons and in endothelial cells, proneurotrophin binding to the p75NTR-sortilin receptor complex is a potent apoptotic stimulus (8, 9, 11). Additional work demonstrating the predominance of proNGF and proBDNF in vivo (12-14) and its up-regulation following injury (8, 11) adds...