Used in drug delivery systems, particularly for creating targeted therapies. It helps in forming liposomes and micelles, which can encapsulate drugs and deliver them to specific cells or tissues. The propargyl group allows for further functionalization through click chemistry, enabling attachment of targeting ligands or imaging agents. This chemical is valuable in cancer treatment, where precise delivery of chemotherapeutic agents is critical to minimize side effects. It also finds use in research for studying cell interactions and developing advanced biomaterials.