This proposal aims to establish a research network in the Area of magnetic nanostructured materials for novel spintronic, novel permanent magnets and biomedical applications, through collaboration and exchange of staff among six Prominent European Union Universities and Research Institutes, with top-class International laboratories, three from USA and one from Korea.The scientific objectives of the project are:(1) To synthesize and study in detail the electronic, magnetic and magnetotransport properties of Rare Earth/Transition Metal oxides in bulk and thin films.(2) To functionalize Thin Films and fabricate/test prototype spintronic devices.(3) To fabricate Hybrids of Transition Metal Oxide thin film nanostructures and nanodevices with Molecule/Organic-based-Magnets.(4) To develop cutting edge basic research into the intrinsic properties of hard magnetic nanoparticles.(5) To develop new technologies for nanoparticle production using novel fabrication techniques.(6) To use novel processing techniques for the consolidation of nanoparticles into Permanent Magnet compacts, with a view to realising energy products in excess of 800 KJ/m3.(7) To functionalize and characterize Fe3O4/Fe2O3 nanoparticle colloids in various matrices for biomedical applications.(8) To test in vitro the efficacy of the produced nanocolloids for Magnetic Hyperthermia and Magnetic Resonance Imaging Contrast (as Contrast Agents).The project is based on existing collaborations between partners, together with shared PhD programs. The establishment of this staff exchange program is expected to strengthen the complementarity of the participants involved and to become a Worldwide-extending Virtual Center of Excellence in the Area of Nanostructured Magnetic Materials.