Primarily used in the field of radiopharmaceuticals, this compound serves as a crucial chelating agent for metal ions, particularly in the development of targeted imaging and therapeutic agents. Its structure allows for efficient binding to radionuclides like gadolinium, lutetium, or yttrium, making it valuable in positron emission tomography (PET) and magnetic resonance imaging (MRI) applications. Additionally, it plays a role in the synthesis of peptide-based radiopharmaceuticals, enabling precise delivery of radioactive isotopes to specific tissues or cells, such as in cancer diagnostics and treatment. The tert-butyl ester groups provide stability during synthesis, which is later removed to activate the compound for metal ion binding.