This chemical is widely used in bioconjugation and pharmaceutical research due to its ability to modify and stabilize biomolecules. It is particularly effective in enhancing the solubility and bioavailability of therapeutic compounds, making it valuable in drug delivery systems. Additionally, it is used in the development of PEGylated proteins and peptides, which helps to reduce immunogenicity and prolong circulation time in the body. Its application extends to the field of diagnostics, where it is utilized to improve the performance of imaging agents and biosensors. The compound's versatility also makes it a key component in the synthesis of advanced materials for biomedical applications.