Composite prosthetic patches with covalently bound particles for controlled drug release, and methods of making and using thereof, have been developed. The particles may encapsulate one or more therapeutic, prophylactic or diagnostic agent(s). Generally, the prosthetic patches are decellularized extracellular matrix such as bovine or porcine pericardium or synthetic polymeric materials. The size of the particles ranges from between 1 nm and 1000 μm, preferably from between 10 nm and 500 nm. In some embodiments, the agent is a therapeutic agent for treatment of neointimal hyperplasia. In other embodiments, the agent is a therapeutic agent for suppressing or resolving inflammation. In yet other embodiments, the agent is a therapeutic for mitigating scarring.