Used in targeted drug delivery systems, especially in cancer therapy, where it helps encapsulate drugs within liposomes or nanoparticles. The PEG layer enhances circulation time by reducing immune clearance, while the folate component binds to folate receptors overexpressed on many cancer cells, enabling selective uptake. Commonly applied in the development of stealth liposomes for improved tumor targeting and reduced side effects. Also utilized in diagnostic imaging agents to deliver contrast molecules specifically to diseased tissues. Supports research in vaccine delivery by improving stability and cellular uptake of antigens.