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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). 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 IL 60439
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol MediChem Life Sciences, Inc. (MCLS)
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3. I.R.S. or Social Security Number of Reporting Person
(voluntary)
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4. Statement for Month/Year 10/00
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5. If Amendment, Date of Original (Month/Year)
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6. 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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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 Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 10/31/00 J(2) 342,020 A $7.00 8,006,135 I By trust (1)
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</TABLE>
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FORM 4 (Continued)
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
Class D Preferred Stock (3) $7.00(3) 10/31/00 C 400,000
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</TABLE>
<TABLE>
<CAPTION>
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Security ficial
(Instr. ficially Direct (D) Owner-
-------------------------------------------- 5) Owned or Indirect ship
Date Expira- Amount or at End (I) (Instr.
Exer- tion Title Number of of (Instr. 4) 4)
cisable Date Shares Month
(Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 201,887 -0- I By trust (1)
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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) In connection with the closing of the Issuer's initial public offering
(the "IPO"), the Michael T. Flavin Revocable Trust purchased 342,020 shares
from the underwriters at the IPO price of $7.00 per share.
(3) The Michael T. Flavin Revocable Trust held Class D preferred stock ("Class
D Preferred") in MCR Holdings, Inc. ("Holdings"), predecessor in interest
to the Issuer, which stock converted automatically into 201,887 shares of
the Issuer's common stock upon the merger with the Issuer (the "Merger")
and the closing of the IPO. Pursuant to the articles of incorporation of
Holdings, immediately prior to an initial public offering all shares of
Class D Preferred converted into an amount of Class A common stock of
Holdings equal to $1,500,000 in the aggregate. Such Class A common stock
was then exchanged for shares of the Issuer's common stock in the Merger.
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Michael T. Flavin
/s/ Michael T. Flavin November 13, 2000
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**Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
If the form is filed by more than one reporting person, see
Instruction 4(b)(v).
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.
** 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.
