The present invention provides compositions and methods for the controlledrelease delivery of one or more biologically active compounds to a subject.Specifically, the invention provides for a pharmaceutical composition for thecontrolled release delivery of biologically active compounds to a subjectcomprising: a) a complex of a biologically active compound having at least onebasic functional group and a polyanion derived from hexahydroxycyclohexanehaving at least two negatively charged functional groups; and b) apharmaceutically acceptable carrier comprising a biodegradable, water-insoluble polymer. By complexing a biologically active compound with apolyanion, the tight, stable complex may be incorporated into a long~ actingdosage system having a more desired drug release curve over time than that isfound in the prior art. The invention also provides the methods of making suchcompositions and the methods of use thereof.