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Iron oxide nanoparticles are promising candidates for drug delivery systems to treat osteoporosis due to their biocompatibility and magnetic properties. Magnetite and maghemite nanoparticles were synthesized here using a co-precipitation method. The particles were characterized by transmission electron microscopy (TEM). Effects of CaP coating iron oxide magnetic nanoparticles on the proliferation of osteoblasts (OB) were determined after 1, 3 and 5 days of culture. The correlation of iron oxide nanoparticle concentration on OB density was also investigated.