Used as a key intermediate in organic synthesis, particularly in the development of pharmaceuticals. Its functionalized cyclobutane core allows for ring-based structural diversification, making it valuable in constructing constrained analogs for drug discovery. The presence of ester groups enables further transformations such as hydrolysis, reduction, or amidation, while the benzyloxy group acts as a protecting group that can be selectively removed under mild conditions. It is often employed in the synthesis of bioactive molecules where cyclobutane rings are used to modulate metabolic stability, conformation, and binding affinity.