We report cell endocytosis, drug release, NMR relaxometry and in vitro MRI studies on a novel class of superparamagnetic colloidal nanocrystal clusters (CNCs) with various biocompatible coatings. It is shown that the transverse relaxivity r2, the parameter representing the MRI efficiency in negative contrast agents, for the PVA-coated, PEGF-coated, and crosslinked PEGF-coated CNCs, is high enough to contrast suitably the magnetic resonance images. The same samples have shown a good ability also in drug releasing (particularly the crosslinked PEGF-coated compound), thus finally allowing us to propose this class of compounds for future applications in theranostics.