The overall goal of this dissertation is to characterize BioDe ^® polymer's biocompatibility and degradation kinetics, and utilize it to load and locally deliver a novel anti-restenotic agent--Corn ^® drug for developing a new powerful drug-eluting stent (DES)--PowerStent ^®. Due to the non-biodegradable polymer issues in existing DESs (e.g. Cypher^® and Taxus^®) which often induce delayed vascular healing, hypersensitivity reactions, in-stent restenosis and thrombosis, biodegradable material has been a major research focus for the development of next generation of DESs. However, all current biodegradable materials used in making DESs are not successful primarily due to the occurrence of inflammatory response to the arterial wall. BioDe^® polymer which is formulated by blending amorphous calcium phosphate (ACP) with poly (lactide-coglycolide) (PLGA), can preclude the accumulation of acidic degradation products of PLGA, and therefore eliminate acidic products associated inflammatory responses. The mechanical properties, drug loading capability and releasing controllability in the blended composite are also improved correspondingly. In this work, BioDe^® polymer's degradation kinetics (in vitro and in vivo), biocompatibility and drug (Com ^® antirestenotic formulation) releasing profiles (in vitro and in vivo) were explored. All data support BioDe^® polymer can be a potential candidate in DES applications.