Ultra-small size and tunable optical properties of graphene quantum dots (GQDs) make them potentially suitable for theranostic applications. This investigation focuses on the effect of process parameters for the synthesis of GQDs of desirable optical properties for biomedical applications. The effect of the raw materials (graphene oxide sheets, glucose, and starch), reaction temperature (170 to 200 °C), and reaction time (3 to 6 h) was investigated on GQDs prepared through hydrothermal treatment. The dispersion of GQDs was characterized using dynamic light scattering (DLS), UV–visible, fluorescence, Raman, and X-ray photon spectroscopic techniques. The effect of the solution temperature and pH on the fluorescence properties of GQDs was also studied. The small hydrodynamic diameter (8.57 ± 1.47 nm) was observed with GQDs prepared from glucose using hydrothermal treatment time of 4 h at 190 °C (GQDs-D). The GQDs-D showed blue fluorescence (λem= 460 nm) with a quantum yield (QY) 67.09 ± 1.25%. The fluorescence characteristic of the GQDs was unchanged up to 6 months during storage at room temperature. GQDs-D revealed their antioxidant nature with a DPPH scavenging activity of 15.08 ± 2.07%. Despite having relatively low DPPH scavenging activity, excellent hemocompatibility (0.23 ± 0.04%) and colloidal stability against bovine serum albumin (BSA) showed GQDs-D as a safe nanocarrier for theranostic application. This was further substantiated with circular dichroism (CD) spectroscopy, which exhibited a preserved α-helical structure of BSA by GQDs-D. High-resolution transmission electron microscopic image of GQDs-D showed an average particle size of 5.70 nm and homogeneous particle distribution between 2–8 nm. Conclusively, all the results revealed the potential of GQDs-D for theranostic application.
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