Bimetallic nanoparticles are potential biological materials distinguished by their multifunctional biological characteristics. This study addresses the critical need for multifunctional therapeutic materials that can simultaneously combat antimicrobial resistance, promote wound healing, and provide anticancer activity three major challenges in modern healthcare. This study presents nanocomposite-based polysaccharides, namely hydroxypropyl methylcellulose (HPMC) and collagen, synthesized in situ with bimetallic CuO@CrO nanoparticles. The developed nanocomposites represent a novel approach to creating multifunctional therapeutic platforms with enhanced efficacy compared to conventional monometallic systems. The characterizations were conducted using Fourier transform infrared (FTIR) spectroscopy and X-ray diffraction (XRD), while the topographical analysis was performed through field emission scanning electron microscopy (FE-SEM) coupled with energy dispersive X-ray analysis (EDX) and high-resolution transmission electron microscopy (HR-TEM). The investigation highlighted the development of a nanofilm and detailed the doping of bimetallic CuO@CrO nanoparticles, which are around 20 nm in size. LNC exhibited superior antimicrobial efficacy compared to FNC against S. typhi, E. coli, E. faecalis, S. typhi, and C. albicans, with inhibition zones of 21 ± 0.2, 21 ± 0.1, 26 ± 0.1, 20 ± 0.2, and 30 ± 0.2 mm, respectively. The documented MIC values, bacterial biofilm concentrations, and time-kill kinetics demonstrated the superior efficacy of LNC in comparison to FNC. The highest antioxidant and anticancer efficacy against osteosarcoma MG-63 cells was ascribed to LNC, with IC50 values of 19.49 and 80.78 ± 0.95 μg/mL, in contrast to the IC50 of FNC, which was 68.66 μg/mL and 111.4 ± 0.68 μg/mL, respectively. The wound closure rates were 68.68 % for LNC and 64.26 % for FNC, respectively. These findings highlight the strong potential of the developed nanocomposites for clinical applications in treating bone cancer-related infections and promoting tissue regeneration, marking a significant advancement in multifunctional nanocomposite design through the innovative integration of green synthesis, bimetallic nanoparticles, and a dual-polymer matrix strategy.