Exhibit 12.1

CURAGEN CORPORATION AND SUBSIDIARY

RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratio data)

	Pro Forma Year Ended December 31, 2003			Year Ended December 31,
				2003			2002			2001			2000			1999
Loss:
Loss before income tax benefit and minority interest in subsidiary loss	$	(80,634	)	$	(80,634	)	$	(95,793	)	$	(47,968	)	$	(28,706	)	$	(25,763	)
Add: Fixed charges		15,512			10,612			10,909			11,153			10,558			1,637
Total loss	$	(65,122	)	$	(70,022	)	$	(84,884	)	$	(36,815	)	$	(18,148	)	$	(24,126	)
Fixed charges:
Interest expense on indebtedness (including amortization of financing costs)	$	14,730		$	9,830		$	10,176		$	10,553		$	10,066		$	1,192
Estimated interest portion of rental expense		782			782			733			600			492			445
Total fixed charges	$	15,512		$	10,612		$	10,909		$	11,153		$	10,558		$	1,637
Ratio of Earnings to Fixed Charges		(4.20	)		(6.60	)		(7.78	)		(3.30	)		(1.72	)		(14.74	)
Deficiency of Earnings Available to Cover Fixed Charges	$	(80,634	)	$	(80,634	)	$	(95,793	)	$	(47,968	)	$	(28,706	)	$	(25,763	)