Abstract: The present invention provides methods and liposomal compositions useful in therapeutics, and diagnosis, prognosis, testing, screening, treatment and/or prevention of various disease conditions. The present invention provides imaging methods for various conditions. The present invention is a multi-layered drug delivery pathway, inclusive of nanoparticle liposomal formulations and mechanisms of localized action via unzipping upon delivery to the affected tissue site. The nano-encapsulation methodology allows maximization of a potent antioxidant's biocompatibility, increased target cell penetration and uptake, reduced off-target effects and retention of high anti-oxidative activity for promising therapeutic potential.