Used as a chelating agent in medical imaging and radiopharmaceuticals, particularly in the stabilization of metal ions for diagnostic applications. Its structure allows efficient binding of radioactive metal isotopes, making it valuable in PET (positron emission tomography) tracer development. Also employed in targeted therapy research due to its ability to conjugate with biomolecules like peptides and antibodies, enabling precise delivery of imaging or therapeutic agents. Solubility and stability in aqueous solutions enhance its utility in biological environments.