Natural Vascular Scaffold (NVS) Therapy for Treatment of Atherosclerotic Lesions (Activate I)

General Description of Subject Population: Adults with symptoms of claudication and/or rest pain (Rutherford Classification 2, 3, or 4) (see Appendix 3) and angiographic evidence of an atherosclerotic lesion of the superficial femoral artery and/or proximal popliteal artery ≥70% diameter stenosis and \< 100% stenosis. Subjects must meet all of the following general eligibility criteria: 1. Subject is at least 18 years of age. 2. Subject (or legally authorized representative \[LAR\]) understands the study requirements and the treatment procedure and provides written informed consent before any study-specific tests or procedures are performed. 3. Subject is eligible for PTA. 4. Subject is willing to comply with all protocol required follow-up evaluations. 5. Subject has documented Rutherford Classification 2 to 4 (see Appendix 3). 6. Subject has laboratory test results that are within clinically acceptable limits. 7. In investigator's opinion, subject is hemodynamically stable at the time of the index procedure. 8. Subject has a life expectancy of ≥ 1 year in the opinion of the Investigator. 9. Subject is able to tolerate the insertion of a 7F sheath into the common femoral artery (CFA), as determined by the investigator. 10. Subject is able to undergo contralateral access, as determined by the Investigator. Exclusion Criteria: Subjects must not meet any of the following general eligibility criteria: 1. Subject had cerebral vascular accident (CVA) or transient ischemic attack (TIA) within the past 3 months prior to enrollment with any residual deficit involving the index lower extremity. 2. Subject has any permanent neurologic defect that may impair ambulation and/or cause non-compliance with the protocol. 3. Subject had a STEMI or NSTEMI within the last 3 months prior to enrollment. 4. Subject is pregnant, breastfeeding, or planning to become pregnant in the next 365 days. Subjects (male and female) must agree to use effective birth control measures for duration of study. 5. Subject is currently receiving oral or intravenous immunosuppressive therapy (e.g., inhaled steroids are not excluded).