This compound is widely used in bioconjugation and drug delivery systems due to its ability to link biomolecules with high efficiency. It serves as a versatile linker in the synthesis of peptide and protein conjugates, enhancing solubility and stability of the resulting compounds. Additionally, it is employed in the development of prodrugs, where it facilitates controlled release of active pharmaceutical ingredients. Its application extends to the field of nanotechnology, where it is used to modify surfaces of nanoparticles for targeted drug delivery and improved biocompatibility. Furthermore, it plays a crucial role in the preparation of hydrogels and other biomaterials for tissue engineering and regenerative medicine.