A Durham-based biotechnology company has raised $5 million from a debt and options offering, according to a filing with the Securities and Exchange Commission.

Spyryx Biosciences Inc. raised the money from 13 investors, according to the filing.

The company said that the money will be used for working capital, which may include compensation to its executive officers.

The company, which was founded in 2014, is developing disease-modifying therapies for obstructive lung disease based on the natural fluid control mechanism in the lung. The company’s initial focus is on cystic fibrosis.

In February, Spyryx announced the successful completion of a Phase 1 study for its lead compound, SPX-101, in healthy volunteers.

The drug is designed to restore a natural pathway in the lung that regulates airway hydration and promotes mucociliary clearance, which is dysfunctional in cystic fibrosis.

Spyryx is funded by a first-tier syndicate of life science investors, including Canaan Partners, 5AMVentures and Hatteras Venture Partners. It raised $18.1 million in May 2015, according to an SEC filing.

John Taylor is the company’s president and CEO.

He previously was vice president, corporate development at Synageva BioPharma, a biotechnology company focused on protein therapeutics for rare diseases, which he helped to take public via a reverse merger with Trimeris.

Prior to joining Synageva, Taylor was the vice president, business development for Javelin Pharmaceuticals, a clinical and commercial stage company developing treatments for acute pain.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.