A method of preparing a texaphyrin-phospholipid conjugate, wherein the texaphyrin-phospholipid conjugate comprises a texaphyrin, texaphyrin derivative or texaphyrin analog covalently attached to a lipid side chain of a phospholipid, the texaphyrin, texaphyrin derivative or texaphyrin analog having a core moiety represented by Formula I: the method comprising reacting with to yield under suitable reaction conditions; wherein one of R 7 -R 10 possesses the phospholipid, and the remainder of R 7 -R 10 are each independently selected from H, an alkyl group, a heteroalkyl group, a cycloalkyl group, an alkenyl group, a heteroalkenyl group, an alkynyl group, a heteroalkynyl group, an aryl group, a heteroaryl group, a heterocyclic group, and an acyl group, wherein preferably the R 7 -R 10 group, other than the phospholipid, comprises 1-4 carbons; R 1 -R 6 are each independently selected from the group consisting of H, an alkyl group, and an alkyl group substituted with an OH, SH, heteroalkyl, aryl, heteroaryl, or heterocyclic group, wherein preferably the alkyl group is a lower C 1-4 alkyl; wherein phospholipid means a lipid having a hydrophilic head group having a phosphate group and a hydrophobic lipid tail, wherein the hydrophilic head group and the hydrophobic lipid tail are joined together by a glycerol molecule; wherein alkyl group means a group formed by removing a hydrogen from a carbon of an alkane, where the alkane is an acyclic or cyclic compound consisting entirely of hydrogen atoms and saturated carbon atoms, and where the alkyl group may include one or more substituent groups; wherein alkenyl group means a group formed by removing a hydrogen from a carbon of an alkene, where the alkene is an acyclic or cyclic compound consisting entirely of hydrogen atoms and carbon atoms, and including at least one carbon-carbon double bond, and where the alkenyl group may include one or more substituent groups; wherein alkynyl group means a group formed by removing a hydrogen from a carbon of an alkyne, where the alkyne is an acyclic or cyclic compound consisting entirely of hydrogen atoms and carbon atoms, and including at least one carbon-carbon triple bond, and where the alkynyl group may include one or more substituent groups. one of R 7 -R 10 possesses the phospholipid, and the remainder of R 7 -R 10 are each independently selected from H, an alkyl group, a heteroalkyl group, a cycloalkyl group, an alkenyl group, a heteroalkenyl group, an alkynyl group, a heteroalkynyl group, an aryl group, a heteroaryl group, a heterocyclic group, and an acyl group, wherein preferably the R 7 -R 10 group, other than the phospholipid, comprises 1-4 carbons; R 1 -R 6 are each independently selected from the group consisting of H, an alkyl group, and an alkyl group substituted with an OH, SH, heteroalkyl, aryl, heteroaryl, or heterocyclic group, wherein preferably the alkyl group is a lower C 1-4 alkyl; wherein phospholipid means a lipid having a hydrophilic head group having a phosphate group and a hydrophobic lipid tail, wherein the hydrophilic head group and the hydrophobic lipid tail are joined together by a glycerol molecule; wherein alkyl group means a group formed by removing a hydrogen from a carbon of an alkane, where the alkane is an acyclic or cyclic compound consisting entirely of hydrogen atoms and saturated carbon atoms, and where the alkyl group may include one or more substituent groups; wherein alkenyl group means a group formed by removing a hydrogen from a carbon of an alkene, where the alkene is an acyclic or cyclic compound consisting entirely of hydrogen atoms and carbon atoms, and including at least one carbon-carbon double bond, and where the alkenyl group may include one or more substituent groups; wherein alkynyl group means a group formed by removing a hydrogen from a carbon of an alkyne, where the alkyne is an acyclic or cyclic compound consisting entirely of hydrogen atoms and carbon atoms, and including at least one carbon-carbon triple bond, and where the alkynyl group may include one or more substituent groups.