Used extensively in the field of drug delivery and nanotechnology, this chemical serves as a key component in the creation of liposomes and other lipid-based nanoparticles. Its unique structure allows for the conjugation of targeting ligands, enhancing the specificity of drug delivery systems to target cells or tissues. This capability is particularly valuable in cancer therapy, where it helps in directing chemotherapeutic agents specifically to tumor cells, thereby minimizing damage to healthy tissues. Additionally, it is employed in the development of diagnostic agents, where it aids in the precise delivery of imaging agents to desired locations within the body, improving the accuracy of diagnostic imaging techniques.