Magnetic drug nanocarriers are synthesized following an arrested mineralization of magnetic spinel iron oxides in the presence of the biopolymer of sodium carboxymethylcellulose. Based on the experimental results, the polyelectrolyte corona probably attains a brushlike configuration around the magnetic particles. The inner core of these colloids may be constituted of polymer-associated nanocrystallites, forming nanogel colloids. The hybrid colloids are endowed with a high loading capacity for the anticancer agent doxorubicin and pronounced pH responsiveness. They also display a dramatic increase in non-linear optical response as compared to previous studies of similar materials. Furthermore, as cell studies indicate, the blank nanocarriers are cytocompatible and the drug retains its activity after loading in the nanocarriers.