UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 Keryx Biopharmaceuticals, Inc. Common Stock, par value $.001 per share (Title of Class of Securities) May 28, 2003 (CUSIP Number: 492515101) Date of event which requires filing May 15, 2003 Check the appropriate box to designate the rule pursuant to which the schedule is filed: [ ] Rule 13d-1(b) [x] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filled for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes to Schedule 13G). 1 ------------------------------- ------------------------------ CUSIP No. 492515101 13G ------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Jay Lobell ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) ------------------------------------------------------------------------------- 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States ------------------------------------------------------------------------------- 5 SOLE VOTING POWER 2,374,187 NUMBER OF SHARES ------------------------------ BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH 0 REPORTING ------------------------------ PERSON WITH 7 SOLE DISPOSITIVE POWER 2,374,187 ------------------------------ 8 SHARED DISPOSITIVE POWER 0 ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,374,187 ------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* ------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.6% ------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* (IN) ------------------------------------------------------------------------------- 2 ITEM 1(a). NAME OF ISSUER: Keryx Biopharmaceuticals, Inc. (the "Company") ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 750 Lexington Avenue New York, NY 10022 (212) 531-5965 ITEM 2(a) NAME OF PERSON FILING: Jay Lobell ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 365 West End Ave. NY, NY 10024 ITEM 2(c). CITIZENSHIP: United States ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock, $0.001 par value. ITEM 2(e). CUSIP NUMBER: 492515101 ITEM 3. If this statement is filed pursuant toss.ss.240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment [company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) [ ] An investment]adviser in accordance with ss.240.13d-1(b)(1)(ii)(E); (f) An employee ] benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with ss. 240.13d-1(b)(1)(ii)(G); 3 (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church) plan] that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, (in accordance with ss.240.13d-1(b)(1)(ii)(J). (h) [ ] Not Applicable ITEM 4. OWNERSHIP The Reporting Person may be deemed to beneficially own 2,374,187 (11.6%) shares of Common Stock of the Issuer. Beneficial ownership consists of voting and dispositive power over (i) 1,374,187shares owned by a trust for which Mr. Lobell is the distribution and investment advisor, and (ii) 1,000,000 shares owned by the Rosenwald 2000 Family Trust, for which Mr. Lobell serves as the trustee. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not applicable ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON See Item 4 above. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not applicable ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not applicable ITEM 9. NOTICE OF DISSOLUTION OF GROUP Not Applicable ITEM 10. CERTIFICATION By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in a transaction having that purpose and effect. 4 SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: May 28, 2003 /s/ Mr. Jay Lobell New York, NY --------------------- Mr. Jay Lobell 5