hyperpolarized 129xe (hp 129xe) magnetic resonance imaging (mri) is a relatively young field which is experiencing significant advancements each year. conventional proton mri is widely used in clinical practice as an anatomical medical imaging due to its superb soft tissue contrast. hp 129xe mri, on the other hand, may provide valuable information about internal organs functions and structure. hp 129xe mri has been recently clinically approved for lung imaging in the united kingdom and the united states. it allows quantitative assessment of the lung function in addition to structural imaging. hp 129xe has unique properties of anaesthetic, and may transfer to the blood stream and be further carried to the highly perfused organs. this gives the opportunity to assess brain perfusion with hp 129xe and perform molecular imaging. however, the further progression of the hp 129xe utilization for brain perfusion quantification and molecular imaging implementation is limited by the absence of certain crucial milestones. this thesis focused on providing important stepping stones for the further development of hp 129xe molecular imaging and brain imaging. the effect of glycation on the spectroscopic characteristics of hp 129xe was studied in whole sheep blood with magnetic resonance spectroscopy. an additional peak of hp 129xe bound to glycated hemoglobin was observed. this finding should be implemented in the spectroscopic hp 129xe studies in patients with diabetes. [...]