In one embodiment of the present invention, a block copolymer with a hydrophilic region and a semifluorinated region is synthesized and mixed, below a critical micellar concentration, with a fluorinated drug, and the temperature then lowered, or the block-copolymer concentration then increased, or other solution conditions changed, in order to form fluorous-core, drug-encapsulating micelles. Alternatively, a drug may be taken up by already formed micelles in solution. A suspension of the fluorous-core, fluorinated-drug-encapsulating micelles is injected into the bloodstream to deliver the fluorinated drug to target tissues and organs. In an alternative embodiment of the present invention, a block copolymer with a hydrophilic block, a hydrophobic block, and a semifluorinated block is used to form fluorous-core, drug-encapsulating micelles. In a third embodiment, a block copolymer with a hydrophilic block, a semifluorinated block, and a hydrophobic block is used to form hydrophobic-core, drug-encapsulating micelles. In additional embodiments, block copolymers with various types of blocks are synthesized and employed to form micelles with interior shell and core regions suitable for encapsulating specific target compounds for a variety of purposes.