Exhibit 12.1

CURAGEN CORPORATION AND SUBSIDIARY

RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratio data)

	Year Ended December 31,
	2003			2002			2001			2000			1999
Loss:
Loss before income tax benefit and minority interest in subsidiary loss	$	(80,634	)	$	(95,793	)	$	(47,968	)	$	(28,706	)	$	(25,763	)
Add: Fixed charges		10,612			10,909			11,153			10,558			1,637
Total loss	$	(70,022	)	$	(84,884	)	$	(36,815	)	$	(18,148	)	$	(24,126	)
Fixed charges:
Interest expense on indebtedness (including amortization of financing costs)	$	9,830		$	10,176		$	10,553		$	10,066		$	1,192
Estimated interest portion of rental expense		782			733			600			492			445
Total fixed charges	$	10,612		$	10,909		$	11,153		$	10,558		$	1,637
Ratio of Earnings to Fixed Charges		(6.60	)		(7.78	)		(3.30	)		(1.72	)		(14.74	)
Deficiency of Earnings Available to Cover Fixed Charges	$	(80,634	)	$	(95,793	)	$	(47,968	)	$	(28,706	)	$	(25,763	)