A implantable neural electrode assembly is described. The implantable neural electrode assembly includes a plurality of open-ended rings alternatingly connected to a spine. An inner layer of the open-ended rings is formed from a drug-loaded material (e.g., silicone that has been loaded with a steroid) and an outer layer is formed from a drug-free material. One or more electrode assemblies are connected to the inner layer and oriented towards a center of a cylinder defined by the plurality of open-ended rings.