Inorganic nanoparticles have been used for various biomedical applications, including bioimaging and drug delivery. In this work, the synthesis of various concentrations of Eu3+ doped Calcium Tetraborate (CaB4O7) using the solution-combustion method and Strontium Tetraborate (SrB4O7) using the solid-state method was reported. The particle size of the nanoparticles is approximately 400 nm for CBO, and SBO. Eu3+ has deep red emission at 590 nm and the other main emission band at 614 nm. While CaB4O7 has the highest luminescence intensity and the best crystallinity phase at 12 % Eu-doping, SrB4O7 has at 14 % Eu-doping. The nanoparticles were coated with polyethylene glycol (PEG), folic acid (FA), and fluorescein isothiocyanate (FITC) to gain various properties and provide targeted drug delivery. Then, the drug loading and release profile of the nanoparticles were examined using the anticancer drug doxorubicin (DOX). The loading capacities of bare nanoparticles were very high: CBO has 19.42 % f 0.36, and SBO has 19.51 % f 0.18 drug by weight. The amount of drug loaded in coated particles was 16.52 % f 1.74 in CBO-PEG/FA, and SBO-PEG/FA was 17.28 % f 1.03. Drug release experiments of all nanoparticles proved that they have slow, steady, and controlled release. It was observed that coated materials release the drug more slowly than bare particles. While PEG/FA coating did not affect cell viability for human glioblastoma (T98G) cells and human osteosarcoma (MG-63) cells, the cellular internalization of coated nanoparticles was lower compared to non-coated nanoparticles, particularly in MG-63 cells. In addition, the nanoparticles can be used for the secondary treatment method, Boron Neutron Capture Therapy (BNCT).