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Patent Pending Magnetic nanoparticles are a class of nanoparticle which can be manipulated using magnetic field gradients. Such particles commonly consist of magnetic elements such as iron, nickel and cobalt and their chemical compounds. While nanoparticles are smaller than 1 micrometer in diameter (typically 5–500 nanometers), the larger microbeads are 0.5–500 micrometer in diameter.