Search for new noninvasive methods for diseases has been significant question for years. Therapeutic properties of light are combined with proper chromophore in order to create fundamentals of photodynamic therapy which is a new treatment modality for cancer and other various non-oncological diseases. The method relies on the activation of photosensitizer by using light of certain wavelength and generation of cytotoxic singlet oxygen species in response. Reactive oxygen species kill the targeted tissue within smaller effective diameter through apoptosis/ necrosis mechanism. Through this method, new PDT agents can be proposed and their properties can be tuned by manipulation of other photophysical processes. In this thesis, synthesis, characterization novel water soluble, near IR absorbing Bodipy photosensitizer will be discussed. As opposed to other photosensitizers in literature, this photosensitizer is rationally designed to have singlet oxygen generation capability only in cancer tissue as a result of glutathione triggered activation.