Used as an anticoagulant in medical research due to its ability to inhibit blood clotting factors. Commonly employed in in vitro diagnostic procedures to prevent coagulation of blood samples. Also utilized in molecular biology for precipitation of nucleic acids, helping in DNA and RNA purification, and in protein analysis for precipitation or controlling lipid aggregation due to its ability to bind positively charged molecules.

In drug delivery systems, it serves as a carrier for controlled release of therapeutic agents, especially in targeted cancer treatments. It has antiviral properties, such as inhibiting HIV entry into cells. Applied in cell culture techniques to study inflammation and colitis, as it can induce experimental colitis in animal models for gastrointestinal disease research, including models for Crohn's disease and ulcerative colitis.

Its polyanionic nature makes it useful in separation techniques like chromatography and electrophoresis.