Used in bioconjugation and drug delivery systems, it serves as a linker molecule to connect therapeutic agents with targeting molecules or carriers. Its PEG (polyethylene glycol) spacer enhances solubility and reduces immunogenicity, making it valuable in creating stable and biocompatible conjugates. It is also employed in modifying surfaces of nanoparticles to improve their stability and circulation time in biological systems. Additionally, it plays a role in synthesizing hydrogels and other biomaterials for tissue engineering applications.