/------------------------------/ / OMB APPROVAL / /------------------------------/ / OMB Number: 3235-0287 / / Expires: December 31, 2001 / / Estimated average burden / / hours per response...... 0.5 / /------------------------------/ +--------+ | 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) -------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* Whitnell Jeffrey -------------------------------------------------------------------------------- (Last) (First) (Middle) 2501 Davey Road -------------------------------------------------------------------------------- (Street) Woodridge IL 60517 -------------------------------------------------------------------------------- (City) (State) (Zip) 2. Issuer Name and Ticker or Trading Symbol MediChem Life Sciences, Inc. (MCLS) ----------------------------------- 3. IRS or Social Security Number of Reporting Person (Voluntary) -------------- 4. Statement for Month/Year 01/01 --------------------------------------------------- 5. If Amendment, Date of Original (Month/Year) --------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [ ] Director [X] Officer [ ] 10% Owner [ ] Other (give title below) (specify below) Vice President of Finance and Treasurer ---------------------------------------------------------------- 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

~~6. 4. 5. Owner~~- ~~Securities Acquired (A) or Amount of ship 3. Disposed of (D) Securities Form: 7. Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Code~~ ------------------------------- ~~Owned at End (D) or Indirect 1. Transaction (Instr. 8) (A) of Month Indirect Beneficial Title of Security Date~~ ------------ ~~Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)~~ ---------------------------------------------------------------------------------------- 1. Title 2. Trans- 3. Trans-~~------------------------------------------~~ ~~Common~~4. ~~Stock~~Securities ~~N/A~~Acquired N/(A) ~~N/A~~5. ~~N/A~~Amount ~~N/A~~of 46. Owner- 7. Nature of action action or Disposed of (D) Securities ship of In- Security Date Code (Instr. 3,~~031,497~~ I4 and 5) Beneficially Form: direct (FNInstr. 13) ~~------------------------------------------------------------------------------------------------------------------------------------~~(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) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ~~====================================================================================================================================~~

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. Page 2 SEC 1473(7-97) FORM 4 (continued) TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (e.g., puts, calls, warrants, options, convertible securities)

~~10. 9. Owner~~- ~~Number ship of Form 2. Deriv~~- ~~of Conver~~- ~~5. 7. ative Deriv~~- ~~11. sion Number of Title and Amount Secur~~- ~~ative Nature or Derivative 6. of Underlying 8. ities Secur~~- ~~of Exer~~- ~~4. Securities Date Securities Price Bene~~- ~~ity: In~~- ~~cise 3. Trans~~- ~~Acquired (A) Exercisable and Instr. 3 and 4) of ficially Direct direct Price Trans~~- ~~action or Disposed Expiration Date~~ ---------------- ~~Deriv~~- ~~Owned (D) or Bene~~- ~~1. of action Code of(D) (Month/Day/Year) Amount ative at End In~~- ~~ficial Title of Deriv~~- ~~Date (Instr. (Instr. 3,~~ ---------------- ~~or Secur~~- ~~of direct Owner~~- ~~Derivative ative (Month/ 8) 4 and 5) Date Expira~~- ~~Number ity Month (I) ship Security Secur~~- ~~Day/~~ ------ ------------ ~~Exer~~- ~~tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)~~ -------------------------------------------------------~~-----------------------------------------------------------------------------~~ 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 ---------------------------------------------------~~---------------------------------------------------------------------------------~~ Code V (A) (D) -----------------------------------------------------------------------------------------------------------------------------~~-------~~ Employee Stock Option (right to buy)(1) $4.63 1/2/01 A 8,639 -----------------------------------------------------------------------------------------------------------------------------~~-------~~ Employee Stock Option (right to buy)(2) 4.63 1/2/01 A 5,000 -----------------------------------------------------------------------------------------------------------------------------~~-------~~ -----------------------------------------------------------------------------------------------------------------------------~~-------~~ -----------------------------------------------------------------------------------------------------------------------------~~------- ====================================================================================================================================~~

TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (e.g., puts, calls, warrants, options, convertible securities)--CONTINUED

Explanation of Responses: (1) The options are exercisable immediately upon issuance. (2) The options vest and become exercisable in 33% increments on 01/02/02, 01/02/03, 01/02/04. **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 provided 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. /s/ Jeffrey Whitnell 2-9-01 ------------------------------- ----------------- **Signature of Reporting Person Date Page 2 SEC 1473(7-97)

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