Neurotrophins are growth factors that promote cell, survival, differentiati
on, and cell death. They are synthesized as proforms that can be cleaved in
tracellularly to release mature, secreted Ligands. Although proneurotrophin
s have been considered inactive precursors, we show here that the proforms
of nerve growth factor (NGF) and the proforms of brain derived neurotrophic
factor (BDNF) are secreted and cleaved extracellularly by the serine prote
ase plasmin and by selective matrix metalloproteinases (MMPs). ProNGF is a
high-affinity ligand for p75(NTR) with high affinity and induced p75(NTR)-d
ependent apoptosis in cultured neurons with minimal activation of TrkA-medi
ated differentiation or survival. The biological action of neurotrophins is
thus regulated by proteolytic cleavage, with proforms preferentially activ
ating p75(NTR) to mediate apoptosis and mature forms activating Trk recepto
rs to promote survival.