Used in the formulation of liposomes and nanoparticles for drug delivery systems, enhancing stability and prolonging circulation time in the bloodstream. It is particularly effective in creating stealth liposomes, which evade the immune system and improve targeted delivery of therapeutic agents. Also employed in the development of contrast agents for medical imaging, providing better visualization in diagnostic procedures. Additionally, it finds application in research for studying membrane interactions and surface modifications in various biomedical applications.