This compound is widely used in the field of radiopharmaceuticals, particularly as a chelating agent for metal ions. It forms stable complexes with various radionuclides, such as gallium-68 and lutetium-177, making it valuable in diagnostic imaging and targeted cancer therapy. In medical imaging, it enhances the contrast and accuracy of positron emission tomography (PET) scans by efficiently binding to radionuclides and delivering them to specific target sites. Additionally, it plays a role in therapeutic applications, where it helps transport radioactive isotopes directly to cancer cells, minimizing damage to surrounding healthy tissues. Its strong binding affinity and stability under physiological conditions make it a critical component in advancing precision medicine.