Conjugated phenolic polymers are precipitated from solution using a nonsolvent system containing sodium bis(2-ethylhexyl)sulfosuccinate (AOT) reversed micelles. When contacted with nonpolar fluids, these polymers coil-up at low concentrations as a result of intramolecular hydrogen banding. Precipitation using a micellar nonsolvent results in highly dispersed polymeric particles whose internal voidage can be controlled by the water content of the micelles. Precipitation in such fluids also results in an encapsulation of intramicellar solutes (enzymes and/or ferrite nanoparticles), leading to the formation of microspherical composites with biocatalytic and/or magnetic properties.