Used in drug delivery systems to improve the solubility and stability of therapeutic agents. Its primary application lies in the PEGylation of proteins and peptides, which helps reduce immunogenicity and prolong circulation time in the body. Commonly employed in the development of biopharmaceuticals, especially for targeted cancer therapies and long-acting injectable formulations. Also utilized in creating hydrogels and functional biomaterials for tissue engineering due to its biocompatibility and ability to form cross-linked networks. Widely applied in research settings for bioconjugation and surface modification of nanoparticles.