This chemical is widely used in bioconjugation and drug delivery systems due to its biocompatibility and ability to enhance solubility. It serves as a linker molecule, connecting drugs, proteins, or other biomolecules to improve their stability and reduce immunogenicity. In nanotechnology, it is utilized to modify surfaces of nanoparticles, ensuring better dispersion and targeted delivery. Additionally, it plays a role in tissue engineering by functionalizing scaffolds to promote cell adhesion and growth. Its hydrophilic properties make it suitable for applications in diagnostics, where it can be used to modify probes or sensors for improved performance.