provided are cosolvent evaporation methods and compositions for improving the solubility of hydrophobic compounds , including therapeutic agents such as anticancer drugs , polyene antibiotics , antilipidemic agents , and hydrophobic compounds used in various industries , and / or for reducing the toxicity of certain hydrophobic therapeutic agents , especially polyene antibiotics , in particular , amphotericin b , and therapeutics such as paclitaxel , tamoxifen , an acylated prodrug or an acylated cis - platin , by incorporating these agents within micelles comprising an amphiphilic block - forming copolymer .