Biologically, it has no purpose at all. It's one of the merger-lines,
known as "raphes", that occur throughout the body. When an embryo is developing in the womb, the right and left sides are merged at various points on the
body, leaving a raphe at the meeting point. Other raphes can be found on the middle of the tongue, in the dent under the point of your chin, and other, far more personal parts of your body.
Source: WHEN DID WILD POODLES ROAM THE EARTH? By David Feldman
There is an old wives’ tale has it that the philtrum is a mark left by an angel’s finger at the moment of a baby’s birth.