Propargyl-PEG2-acid is a PEG derivative containing a propargyl group with a terminal carboxylic acid. The terminal carboxylic acid can be reacted with primary amine groups in the presence of activators (e.g. EDC, or DCC) to form a stable amide bond. The hydrophilic PEG spacer increases solubility in aqueous media. 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.