Used as a fluorescent probe in biochemical and cellular research due to its ability to bind selectively to specific enzymes or proteins. Commonly employed in assays to study protease activity, especially in detecting enzyme kinetics and inhibition. Its fluorescence properties make it suitable for imaging applications in live and fixed cells, allowing visualization of cellular structures or tracking molecular interactions. Also utilized in drug development for high-throughput screening where detection of enzymatic cleavage is required. Stable under a range of physiological conditions, making it effective in various buffer systems and assay formats.