This compound is primarily utilized in biochemical research, particularly in the study of enzyme activity and protease mechanisms. It serves as a fluorogenic substrate, enabling the detection and quantification of protease enzymes through fluorescence emission upon cleavage. Its application is crucial in understanding the kinetics and specificity of proteases, aiding in the development of therapeutic agents targeting protease-related diseases. Additionally, it is employed in high-throughput screening assays to identify potential inhibitors or activators of protease activity, contributing to drug discovery and molecular biology studies.