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The synthesis and characterization of novel phthalocyanines containing o-carborane groups are described. These new tetrasubstituted phthalocyanines are of interest for the use in cancer therapy. The activities of the carboranyl substituted phthalocyanines were evaluated by the photooxidation of (S)-(−)-citronellol to give a high oxygen consumption comparable to the photosensitizers tetrasulfophthalocyanine zinc complexes.