In this investigation, a new wholly aromatic random copolyester containing 4,4'-dihydroxybiphenyl, 3,5dihydroxytoluene and Isophthaloyl chloride was synthesized using the solution polycondensation methodology in the mole ratio 2:1:3 and its solubility along with inherent viscosity were determined. The chemical structure of the copolyester was established by traditional spectroscopic techniques. The physical parameters of the polyester were studied employing WAXD studies and the thermal stability along with phase transitions were investigated employing TGA and DSC data. The morphological features in the polyester were probed using Scanning Electron Microscopy. The anticancer activity of copolyester was verified using HeLa (Cervical carcinoma) cell line employing MTT assay.