This compound is widely used in biochemical research as a fluorogenic substrate for detecting caspase-3 activity, a key enzyme involved in apoptosis (programmed cell death). It is particularly valuable in studying cell death mechanisms, screening potential apoptosis-inducing drugs, and evaluating the efficacy of therapeutic agents targeting apoptosis pathways. Researchers utilize it in fluorescence-based assays, where cleavage by caspase-3 releases a fluorescent signal, enabling real-time monitoring of enzyme activity. It is also employed in drug discovery and development to identify compounds that modulate apoptosis, making it a critical tool in cancer research and neurodegenerative disease studies.