Core-modified porphyrins have been explored as the second-generation photosensitizers due to their excellent photophysical properties. IY69 [(5-phenyl-10,15-bis(4-carboxylatomethoxyphenyl)-20-(2-thienyl)-21,23-dithiaporphyrin] was developed from the structure optimization guided by in vitro phototoxicity, showing potent activity (IC50 = 80 nm, broadband at 5 J cm−2, R3230AC cells). The present study demonstrates in vivo photodynamic therapy (PDT) efficacy of IY69 using a murine tumor model (colon 26 cells on BALB/c mice) and 690 nm diode laser. In vitro phototoxicity of IY69 with the diode laser was compared with that with broadband light against colon 26 cells. Attenuation of the laser light by tissue samples was determined to estimate actual power density at targets. Biodistribution in various organs 24, 48, 72 h after i.p. administration was determined. Even though IY69 phototoxicity with the diode laser was less effective than that with the broadband light, the diode laser was quite effective in vitro (IC50 = 0.1 μm, 10 J cm−2, colon 26 cells). Concentration and light dose-dependent phototoxicity was observed. A significant light attenuation of 95% and 99% was observed by skin and 3 mm muscle with skin. IY69 PDT showed significant damage on tumor and delay in tumor growth in a dose-dependent manner.