Widely used in biochemical research and industrial applications, this compound serves as a critical cofactor in redox reactions, particularly in metabolic pathways such as glycolysis, the citric acid cycle, and oxidative phosphorylation. It is essential in enzyme-catalyzed reactions involving dehydrogenases, where it acts as an electron carrier, cycling between oxidized and reduced forms. Commonly employed in diagnostic assays and biocatalysis, it supports the development of enzymatic biosensors and is used in the synthesis of high-value chiral compounds in pharmaceutical manufacturing. Its lithium salt form enhances solubility and stability in aqueous solutions, making it suitable for in vitro applications, including cell-free systems and enzymatic recycling systems. Additionally, it plays a role in studies related to aging, DNA repair, and signaling pathways involving sirtuins and poly(ADP-ribose) polymerases (PARPs).