Transition metal (e.g., silver and copper) derivatized phosphorylated polysaccharides (cellulose, starch, gauze) provide antimicrobial and elastase sequestration properties to wound dressings, and the wound dressing have enhanced water sorption and elastase sequestration when used with alginates. Wound dressings with alginates (e.g., silver alginate, crosslinked alginates, etc.) provide enhanced wound fluid absorption as well as elastase sequestration.