The present invention provides compositions and methods for the controlled release delivery of one or more biologically active compounds to a subject. Specifically, the invention provides for a pharmaceutical composition for the controlled release delivery of biologically active compounds to a subject comprising: a) a complex of a biologically active compound having at least one basic functional group and a polyanion derived from hexahydroxycyclohexane having at least two negatively charged functional groups; and b) a pharmaceutically acceptable carrier comprising a biodegradable, water-insoluble polymer. By complexing a biologically active compound with a polyanion, the tight, stable complex may be incorporated into a long-acting dosage system having a more desired drug release curve over time than that is found in the prior art. The invention also provides the methods of making such compositions and the methods of use thereof.