Used in drug delivery systems to enhance solubility and circulation time of lipophilic compounds. Its PEGylated structure improves biocompatibility and reduces immune recognition, making it ideal for targeted therapies and nanoparticle formulations. Frequently employed in conjugating therapeutic agents to liposomes, enabling controlled release and improved cellular uptake. Also applied in bioconjugation for diagnostic imaging and in developing hydrogels for biomedical applications due to its amphiphilic nature and ability to self-assemble.