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We prepared and tested cobalt zinc ferrite encapsulated by amorphous silica in order to find a safe contrast agent and magnetic label MRI. Rat mesenchymal stem cells were labeled with a low, medium or high dose of CZF-NPs (0.05; 0.11 or 0.55 mM); silica NPs served as a positive control. Annexin V/Propidium Iodide labeling revealed no significant cytotoxicity for any group of treated cells and only a high dose of CZF-NPs slowed down cell proliferation and induced DNA damage. Nevertheless, the labeled cells still exhibited an adequate relaxation rate for MRI.