A new mucoadhesive polymer was prepared by template polymerization of acrylic acid using poloxamer as a template polymer. FTIR results showed that the interpolymer complex was formed by hydrogen bonding between the carboxyl group of poly(acrylic acid) (PAA) and the ether group of poloxamer. The extent of hydrogen bonding in the PAA/poloxamer interpolymer complex increased as the ratio of PAA/poloxamer decreased. The T-g of PAA/poloxamer interpolymer complexes was matched well with the T-g calculated by Gordon-Taylor's equation than that of their blends. This result suggests that the PAA and poloxamer in the interpolymer complexes are more compatible than their blends. The dissolution rate of PAA/poloxamer interpolymer complexes was much slower than that of their blends, and was dependent on the pH of the medium and the ratio of PAA/poloxamer. The adhesive bond strength of PAA/poloxamer interpolymer complexes to a plastic (polypropylene) plate was greater than their blends or a commercial product, Carbopol 971P NF.