Used primarily in biochemical research, this compound serves as a substrate for proteolytic enzymes, particularly those involved in peptide bond cleavage. It is often employed in enzyme activity assays to measure the activity of proteases, such as trypsin or other serine proteases. The compound releases a fluorescent group upon enzymatic cleavage, allowing for real-time monitoring of enzyme kinetics. This makes it a valuable tool in studying enzyme mechanisms, inhibitor screening, and drug development. Additionally, it is utilized in cell biology to investigate protease functions in cellular processes, including apoptosis and signal transduction. Its application extends to diagnostic research for identifying enzyme-related disorders.