A controlled release multidrug formulation for improving locomotor recovery after spinal cord injury comprising: (a) a first composition comprising a first bioactive agent, encapsulated within a first polymeric particle; (b) a second composition comprising a second bioactive agent, encapsulated within a second polymeric particle, wherein the second polymeric particle is encapsulated within the first polymeric particle; and (c) a third composition comprising a third bioactive agent, encapsulated within either the first or the second polymeric particle, wherein the second composition is released subsequently to the release of the first composition, and wherein the first bioactive agent is a neurotrophic factor, the second bioactive agent is a collagen synthesis inhibitor, and the third bioactive agent is selected from the group consisting of cyclic AMP (cAMP), an adenylate cyclase activator and a Rho inhibitor.