This chemical is widely used in bioconjugation and drug delivery systems due to its unique PEGylated structure, which enhances solubility and stability. Its propargyl groups enable click chemistry reactions, particularly copper-catalyzed azide-alkyne cycloaddition (CuAAC), allowing for efficient and selective attachment of molecules such as drugs, peptides, or imaging agents. The PEG2 spacers provide flexibility and reduce immunogenicity, making it suitable for therapeutic applications. It is also employed in the development of targeted therapies, where its functional groups facilitate the creation of complex, multifunctional conjugates for precise delivery to specific tissues or cells. Additionally, it is utilized in research for labeling biomolecules and constructing advanced materials with tailored properties.