The present investigation reporting about the synthesis of NiyMg1-yFe2O4 (y = 0.3, 0.5, and 0.7) nanoparticles employing the co-precipitation method. TG-DT analysis revealed that NiyMg1-yFe2O4 nanoparticles were thermally stable above 386 °C. Structural, morphological, and magnetic studies were carried out through XRD, FTIR, FESEM, HRTEM, and VSM tools. XRD analysis confirmed that the nanoparticles possessed a single-phase cubic spinel structure and the Debye-Scherrer equation employed notices a linear increase in average crystallite size with increases in both nickel concentration and annealing temperatures. Two prominent absorption peaks between 423 and 556 cm−1, observed in FTIR study corresponding to the stretching vibration of octahedral (B) and tetrahedral (A) sited characteristic of spinel ferrite. The surface morphology of the NiyMg1-yFe2O4 nanoparticles annealed at 600 °C was characterized through FESEM and HRTEM tools. FESEM micrographs emphasized a spherical shape with less agglomeration, while EDX spectra confirmed the presence of Fe, Ni, Mg, and O in the nanoparticles advocating its purity. HRTEM images further confirmed the spherical morphology of the nickel magnesium ferrite nanoparticles. Magnetic properties were measured using VSM technique, suggesting the saturation magnetization and coercivity values increased with increased nickel concentrations, showing its soft ferrimagnetic behavior and suggesting potential applications in drug delivery and storage devices. The in vitro investigation was carried out using MTT assay to ascertain the amount of cytotoxicity present in breast cancer (MCF-7) and non-cancerous (NIH-3T3) cells taken for study with help of prepared nanoparticles administered with drugs doxorubicin (DOX) and melittin (MLT).
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