Used as a bifunctional chelating agent in bioconjugation, particularly for radiolabeling biomolecules like peptides and antibodies. Its structure allows stable coordination of metal ions, making it valuable in nuclear medicine for diagnostic imaging and targeted radiotherapy. Commonly employed in the development of radiopharmaceuticals due to its high selectivity and stability with isotopes such as gallium-68, copper-64, and yttrium-90. The compound enables efficient labeling under mild conditions, preserving the biological activity of the targeting molecule. Also utilized in molecular imaging research and preclinical studies for tracking disease markers.