A polymer film coating for medical devices and medical devices with coating are provided to controllably release one or more therapeutics or other agents locally at the tissue-device interface for a prolonged period of time. The coating can be prepared via layer by layer (LbL) assembly of polymers and/or polymers conjugated to or otherwise associated with one or more drugs, particularly recyclable antioxidants or antioxidant regulators. The resulting coating contains alternating layers that are assembled via electrostatic interactions, hydrogen bonding, or other secondary interactions. The coated device can provide for long term local delivery of antioxidants, preferably antioxidant upregulators and/or recyclable antioxidants, to modulate the oxidative stress associated with brain implants.