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| FORM 3 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Flavin Michael T.
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(Last) (First) (Middle)
12305 South New Avenue
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(Street)
Lemont Illinois 60439
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year) 10/25/00
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3. IRS or Social Security Identification Number of Reporting Person if an
Entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol MediChem Life Sciences, Inc. (MCLS)
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_X_ Director _X_ Officer _X_ 10% Owner ___ Other
(give title below) (specify below)
Chairman, President and CEO
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
__X__ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securities Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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Common Stock 7,462,228 I By trust(1)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of In-
Security (Instr. 4) cisable and Underlying Derivative Security or Form of direct Bene-
Expiration (Instr. 4) Exercise Derivative ficial
Date Price Security: Ownership
(Month/Day/ of Direct (D) (Instr. 5)
Year) Derivative or In-
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Date Expira- Amount or (Instr. 5)
Exer- tion Title Number of
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option
(right to buy) 01/01/01(2) 01/01/08 Common Stock 31,210 $0.47 D
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Employee Stock Option
(right to buy) 01/01/01(2) 01/01/08 Common Stock 10,111 $0.47 I Spouse (3)
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</TABLE>
Explanation of Responses:
(1) Such shares are held by the Michael T. Flavin Revocable Trust, for which
Dr. Flavin is the trustee and beneficiary.
(2) The options vest and become exercisable in 33% increments on 01/01/01,
01/01/02 and 01/01/03.
(3) Such options are held by Karen A. Flavin, Dr. Flavin's spouse. Dr. Flavin
disclaims beneficial ownership of such shares, except to the extent of his
pecuniary interest.
/s/ Michael T. Flavin October 19, 2000
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**Signature of Reporting Person Date
* If the form is filed by more than one reporting person, see Instruction
5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
