This chemical is widely used in the field of biotechnology and pharmaceuticals, particularly in drug delivery systems. It is employed to modify the surface properties of nanoparticles, enhancing their stability and biocompatibility. This makes it valuable for targeted drug delivery, allowing medications to be directed to specific cells or tissues in the body, thereby improving treatment efficacy and reducing side effects. Additionally, it is utilized in the development of diagnostic agents, contributing to more accurate imaging and detection of diseases. Its role in improving the performance of therapeutic and diagnostic tools underscores its importance in advancing medical science.