Composition and method for providing localized delivery of a therapeutic agent

The present invention is a composition for providing localized delivery of a therapeutic agent to a subject. The instant composition is a hydrophilic matrix-based prodrug system, wherein a protease substrate peptide acts as extracellular protease degradable spacer binding the therapeutic agent to a hydrophilic matrix. Release of the therapeutic agent is achieved by localized activity of extracellular proteases thereby providing minimal toxicity of the therapeutic agent and maximum release with protease activity. Methods for producing the instant composition and providing localized delivery of a therapeutic agent to a subject are also provided.