Used as a chelating agent in radiopharmaceuticals, particularly for binding radioactive metal ions like gallium-68, copper-64, or yttrium-90. Its structure allows stable complex formation, making it valuable in diagnostic imaging and targeted radiotherapy. Commonly employed in the development of PET tracers due to high selectivity and in vivo stability. Also investigated for use in MRI contrast agents and in bioconjugation strategies where selective metal coordination is required.