This compound is primarily utilized in the field of medicinal chemistry, particularly in the development of targeted cancer therapies. It functions as a key component in the design of proteolysis-targeting chimeras (PROTACs), which are innovative molecules that facilitate the degradation of specific proteins involved in cancer progression. By binding to both the target protein and an E3 ubiquitin ligase, it induces the ubiquitination and subsequent degradation of the target protein, thereby inhibiting cancer cell growth and survival. Additionally, it has been explored for its potential in treating neurodegenerative diseases by targeting misfolded proteins that contribute to disease pathology. Its unique structure allows for precise interaction with biological targets, making it a valuable tool in the development of novel therapeutic agents.