DSPE-PEG8-propargyl is a PEG derivative with attached DSPE and maleimide groups. The DSPE-PEGs have been FDA approved for medical applications. The hydrophobic properties of the DSPE allow for the encapsulation and congregation of other hydrophobic drugs. The hydrophilic PEG linker increases the water solubility of the overall compound allowing for the delivery of the drug. The hydrophilic PEG linker increases the water solubility of the compound. The propargyl group can be reacted with azide-bearing compounds or biomolecules via copper catalyzed azide-alkyne Click Chemistry to yield a stable triazole linkage.