The present invention is directed to the treatment of small abdominal aortic aneurysms by the implantation of a polymeric, biodegradable device incorporating an anti-aneurismal effective amount of a MMP inhibitor. The present invention is further directed to the polymeric, biodegradable implantable device produced from a biodegradable, polymeric material having an anti-aneurismal effective amount of a MMP inhibitor incorporated therein. Not only can the treatment in accordance with the present invention prevent the inception and growth of aneurysms, it can also induce regression of established aneurysms.