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They are fairly advanced , connecting the dots with University of Sydney who have tested IBX nanoparticles on a low field MRI machine which the University developed themselves.

Ferronova is an innovative medical device company, spun out of the University of South Australia and Victoria University of Wellington NZ, and licensing core intellectual property from the University of Sydney, producing advanced magnetic nanoparticles to aid in the diagnosis and treatment of cancer. Ferronova's mission is to provide solutions for staging all solid tumour cancers.

July 2020
Imagion Biosystems Limited is pleased to share news of research published by collaborators from the University of Sydney demonstrating that Imagion’s iron oxide nanoparticles enable low-field magnetic resonance imaging, which could provide a significant advancement in medical imaging by reducing the cost and improving the accessibility of MRI. This research reinforces the significance of the clinical and commercial opportunity for Imagion’s nanoparticles.