Dextran, previously activated by periodate oxidation, was grafted with mono-6-amino-6-deoxy-beta-cyclodextrin, mono-6-ethylenediamino-6-deoxy-beta-cyclodextrin, and mono-6-butylenediamino-6-deoxy-beta-cyclodextrin by reductive alkylation in the presence of NaBH4. The polymers were able to form inclusion complexes with Naproxen, increasing the solubility of the drug by 2.2-2.6 folds. The beta-cyclodextrin-grafted dextrans were used as macromolecular carriers for Naproxen, improving the "in vivo" anti-inflammatory activity of the drug.