Widely used in medical imaging and radiopharmaceuticals, this compound serves as a key chelating agent for stabilizing metal ions, especially radioactive ones like gadolinium, yttrium, and lutetium. Its primary application lies in the development of contrast agents for MRI, where it enhances image clarity by tightly binding paramagnetic metals and reducing their toxicity. Due to its high selectivity and stability, it is also employed in targeted radiotherapy, particularly in cancer treatment, where it helps deliver therapeutic isotopes directly to tumor cells. The structure allows for easy functionalization, making it suitable for conjugation with peptides, antibodies, or other targeting molecules. This enables precise delivery in diagnostic and therapeutic applications, especially in PET imaging and somatostatin receptor-targeted treatments.