Used extensively in the formulation of liposomes and other drug delivery systems due to its ability to enhance stability and prolong circulation time in the bloodstream. It is particularly valuable in creating stealth liposomes, which can evade the immune system and deliver therapeutic agents more effectively to target tissues. Additionally, it plays a crucial role in improving the solubility and bioavailability of poorly water-soluble drugs, making it a key component in nanomedicine and cancer therapy formulations. Its amphiphilic nature allows it to self-assemble into micelles, which are useful for encapsulating hydrophobic drugs and facilitating their delivery.