Used in biochemical research as a thiol-containing peptide derivative, this compound serves as an intermediate in the synthesis of protease inhibitors and other biologically active molecules. Its thiol group allows for conjugation or disulfide bond formation, making it valuable in the development of pharmaceuticals targeting enzyme activity. It is also employed in studies involving proline-rich peptides, where it helps investigate protein-protein interactions and enzyme kinetics. Due to its hydrate form, it offers improved solubility and stability in aqueous environments, which is beneficial for assays and reactions in physiological-like conditions.