Used in the synthesis of peptides and peptidomimetics, this compound serves as a building block in medicinal chemistry. It is particularly valuable in the development of drugs targeting neurological disorders due to its structural similarity to neurotransmitters. Additionally, it finds application in the study of enzyme inhibitors, aiding in the understanding of biochemical pathways. Its cyclopentane ring provides rigidity, making it useful in designing molecules with specific conformational properties for biological activity.