Used as a chelating agent in medical and analytical applications, particularly in radiopharmaceuticals for stabilizing metal ions like technetium-99m and gallium-68 in diagnostic imaging. Its thiol and carboxyl groups enable strong coordination with metal centers, improving the stability and targeting of radiolabeled compounds. Also employed in biochemical research for modifying proteins and peptides due to its ability to link with thiol-reactive groups. Suitable for developing targeted imaging agents and therapeutic radiopharmaceuticals.