Used in bioconjugation and drug delivery systems, this compound serves as a linker to attach therapeutic agents to targeting molecules or nanoparticles. Its PEG (polyethylene glycol) chain enhances solubility and stability, while the lipoamide group facilitates binding to biomolecules. It is particularly valuable in developing targeted cancer therapies, where it helps deliver drugs specifically to tumor cells, minimizing off-target effects. Additionally, it is employed in research for modifying proteins or peptides to improve their pharmacokinetic properties.