This chemical is widely used in the synthesis of complex organic molecules, particularly in the pharmaceutical and biotechnology industries. It serves as a key intermediate in the production of drug delivery systems, where its structure allows for the creation of biocompatible and water-soluble compounds. The compound is also employed in the development of polyethylene glycol (PEG) derivatives, which are essential for modifying proteins, peptides, and other biomolecules to enhance their stability, solubility, and therapeutic efficacy. Additionally, it is utilized in the preparation of functionalized polymers and hydrogels, which find applications in tissue engineering and controlled drug release systems. Its versatility makes it a valuable component in the design of advanced materials and bioactive agents.