Cancer is a collective name for diseases distinguished by uninhibited or uncharacteristic cell proliferation. Its development is influenced by a succession of mutations which leads to invasive malignancies. Most people with cancer do not receive a diagnosis and treatment until the condition has worsened. Cyclodextrin-based nano sponges are unique nanosized structures made of cross-linkers having a three-dimensional network. The type of cross-linker may easily alter the polymer mesh's polarity and size. Due to uncontrolled cell proliferation and non-targeted therapy, traditional drug delivery systems are not so effective or promising in treating cancer. In treating pancreatic, breast, and prostate diseases, a tailored pharmaceutical delivery system may help deliver the drug effectively. The non-toxic, biodegradable substance in nano sponges is also well-tolerated in cell culture conditions. The release and entrapment efficiency can be easily modified by altering the structure to produce extended or fast release kinetics. In this research, we have explored the potential of β-Cyclodextrin, and diphenyl carbonate in designing an effective drug delivery system in the form of Nano sponge; the preparation method, structural analysis and possible future applications is the main focus of the article.