The present invention relates to a compound of the formula: R-AR—O—Y—R′Wherein R represents one or more members selected from H, alkoxy, benzyloxy, 
aldehyde, 
halogen, 
carboxylic acid, —NO2, —NH2, —NHCOCH3, and —NH—Y—R′, which is attached directly to AR or attached through an aliphatic chain. The 
carboxylic acid moiety in R includes but is not limited to the following carboxylic acids: benzoic acids, cinnamic acids, 
ferulic acid, 
caffeic acid, 
syringic acid, 
salicylic acid, 
vanillic acid, phenylacetic acids, phenylpropionic acids, and sinapinic acid. -AR—O— is a biologically active phenolic 
moiety comprising 1 to 6 substituted or unsubstituted 
aryl rings that are directly bonded to each other, fused together, or joined through a linking group. Y represents a member selected from: —COCH2O— (glycolic ester 
moiety) —COCH(CH3)O— (lactic ester moiety) —COCH2OCH2CH2O— (dioxanone ester moiety) —COCH2CH2CH2CH2CH2O— (
caprolactone ester moiety) —CO(CH2)mO— where m is an integer between 2-4 and 6-24 inclusive —COCH2O(CH2CH2O)n— where n is an integer between 2 and 24, inclusive; and R′ is either 
hydrogen or a benzyl or an 
alkyl group, the 
alkyl group being either straight-chained or branched. The 
resultant functionalized phenolic compounds, used singly or in combinations, and their polymers have controllable degradation profiles, releasing the 
active component over a desired 
time range. The polymers are useful for biomaterials and biomedical devices, wherein said biologically active phenolic moiety is a residue of a phenolic compound.