A biodegradable nano-theranostic composite comprising graphene oxide and lipid in the liposomes in the ration of 0.005 to 0.03 characterized in that the graphene oxide is coated as film on the liposome on the inner side and outer side of the liposome. The composite is capable of safely carrying sensitive cargo without premature release and is fluorescent and absorbs in the NIR region and can perform targeted combined chemo and photothermal therapy. The nanotheranostic nanocomposite is designed to collapse and biodegrade after use.
