UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934


                               Chiral Quest, Inc.
                               ------------------

                      Common Stock, no par value per share
                      ------------------------------------
                         (Title of Class of Securities)

                                   17003P105
                                  ------------
                                  CUSIP Number

                                December 31, 2003
                      ------------------------------------
                      (Date of Event which Requires Filing
                               of this Statement)

Check the appropriate box to designate the rule pursuant to which this 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 the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("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).

                          Continued on following pages
                                Page 1 of 5 Pages




                                  SCHEDULE 13G

CUSIP No.  17003P105                                                 Page 2 of 5


1        Names of Reporting Persons
         I.R.S. Identification Nos. of above persons (entities only)

                  JAY LOBELL

2        Check the Appropriate Box If a Member of a Group *

                                                     a. [ ]
                                                     b. [X]

3        SEC Use Only

4        Citizenship or Place of Organization

                  UNITED STATES

                            5             Sole Voting Power
  Number of                                       2,179,818
   Shares
Beneficially                6             Shared Voting Power
  Owned By                                        0
    Each
Reporting                   7             Sole Dispositive Power
   Person                                         2,179,818
    With
                            8             Shared Dispositive Power
                                                  0

9        Aggregate Amount Beneficially Owned by Each Reporting Person

                                    2,179,818

10       Check Box If the Aggregate Amount in Row (9) Excludes Certain
         Shares *

                                    [ ]

11       Percent of Class Represented By Amount in Row (9)

                                    16.77%

12       Type of Reporting Person *

                                    IN

* see instructions before filling out




CUSIP No.  17003P105                                                 Page 3 of 5


Item 1(a)         Name of Issuer:

                  Chiral Quest, Inc. (the "Issuer")

Item 1(b)         Address of the Issuer's Principal Executive Offices:

                          7 DEER PARK DRIVE, SUITE E
                          PRINCETON CORPORATE PLAZA
                          MONMOUTH JUNCTION, NJ 08852
                          BUSINESS PHONE: 732-274-0399

Item 2(a)         Name of Person Filing:

                  Jay Lobell (the "Reporting Person").

Item 2(b)         Address of Principal Business Office or, if None, Residence:

                  365 West End Ave. NY, NY 10024

Item 2(c)         Citizenship:
                  Mr. Lobell is a citizen of the United States.

Item 2(d)         Title of Class of Securities:

                  Common Stock (the "Shares").

Item 2(e)         CUSIP Number:

                  17003P105

Item 3.           If this  statement  is filed  pursuant  to Rule  13d-1(b),  or
                  13d-2(b) or (c), check whether the person filing is a:

                  This Item 3 is not applicable.

Item 4.           Ownership:

Item 4(a)         Amount Beneficially Owned:

                  Each of the  Reporting  Persons  may be deemed the  beneficial
                  owner of the following number of Shares:

                  Mr.  Lobell may be deemed the  beneficial  owner of  2,179,818
                  Shares.   Beneficial   ownership   consists   of  voting   and
                  dispositive  power  over  (i)  1,277,025  Shares  owned by the
                  Rosenwald  2000 Family  Trust,  for which Mr. Lobell serves as
                  the  trustee;  (ii)  212,837  shares  owned by the  Lindsay A.
                  Rosenwald 2000 (Delaware)  Irrevocable  Indenture of Trust for
                  which Mr. Lobell is investment  manager;  (iii) 212,837 shares
                  owned by the Lindsay A. Rosenwald Alaska Irrevocable Indenture
                  of Trust of which Mr. Lobell  serves as trustee;  (iv) 212,837
                  shares  owned  by  the  Lindsay  A.  Rosenwald   Rhode  Island
                  Irrevocable  Indenture of Trust for which Mr. Lobell serves as
                  investment manager; and (V) 264,282 Shares owned by Mr. Lobell
                  directly.




CUSIP No.  17003P105                                                 Page 4 of 5


Item 4(b)         Percent of Class:

                  Please see Item 11 of each cover page.


Item 4(c)         Number of shares as to which such person has:

         (i)       Sole power to vote or           Please see Item 5 of each
                   direct the vote:                cover page

         (ii)      Shared power to vote or         Please see Item 6 of each
                   to direct the vote              cover page

         (iii)     Sole power to dispose or to     Please see Item 7 of each
                   direct the disposition of       cover page

         (iv)      Shared power to dispose or      Please see Item 8 of each
                   to direct the disposition of    cover page


Item 5.           Ownership of Five Percent or Less of a Class:

                  This Item 5 is 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:

                  This Item 7 is not applicable.

Item 8.           Identification and Classification of Members of the Group:

                  This Item 8 is not applicable.

Item 9.           Notice of Dissolution of Group:

                  This Item 9 is not applicable.

Item 10. Certification:

                  By signing below each of the Reporting Persons certifies that,
to the best of such person's  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 any
transaction having such purpose or effect.




                                                                     Page 5 of 5


                                   SIGNATURES


         After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct, as of this February 2, 2004.

                                                 JAY LOBELL


                                                 By /s/ Jay Lobell
                                                    ---------------------------