A company developing a mobile respiratory health device based in the Research Triangle Park has raised $80,000 in a private debt and options offering, according to a filing Thursday with the Securities and Exchange Commission.

Vigor Medical Systems Inc. raised the money from two investors. It is seeking an additional $420,000, according to the filing.

The company said it will use the proceeds for working capital, which may include compensation to executive officers.

The company, which was founded in 2015, is a spin out from Duke University. Its device monitors lung function.

The company’s product is a wireless, mobile spirometer that connects to an app allowing improved patient, or patient-to-provider, integrated respiratory care management.

There over 450 million people who suffer from some form of chronic respiratory disease, such as asthma, COPD or Cystic Fibrosis, and many of these individuals often require lung function monitoring to help manage their condition.

Mismanagement of, or complications associated with, respiratory disease has a negative cost impact of more than $75 billion annually on the U.S. health care system, according to studies.

The company’s president is Richard Pilnik, a former Quintiles executive. He was executive vice president and president at Quintiles Commercial Solutions before he retired in June 2014.

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.