The synthesis and physicochemical properties of a novel porphyrazine possessing an alternate system of two peripheral substituents, 2-(1-adamantyl)-5-phenylpyrrol-1-yl and dimethylamino, are presented. Precursor maleonitriles were characterized using X-ray crystallography. Novel porphyrazine was subjected to spectroscopic studies, including the determination of fluorescence quantum yield and singlet oxygen quantum yield. Moreover, its electrochemical and spectroelectrochemical properties were investigated. The antimicrobial photodynamic activities of the novel porphyrazine encapsulated in various liposomal formulations were tested against S. aureus and P. aeruginosa.