R3 Vascular Inc., a medical device company focused on developing bioresorbable scaffolds for peripheral arterial disease (PAD), has announced the completion of an $87 million Series B financing round. The funding, led by Deerfield Management, will support the ELITE FDA IDE pivotal trial of its MAGNITUDE® bioresorbable scaffold for below-the-knee PAD, alongside R&D, regulatory submissions, and manufacturing scale-up. Christopher M. Owens has been appointed as the new President and CEO, bringing over three decades of medical device industry experience to the role.