Exhibit 12.1

CURAGEN CORPORATION AND SUBSIDIARY

RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratio data)

	Year Ended December 31,
	2004		2003		2002		2001		2000
Loss:
Loss before income tax benefit and minority interest in subsidiary loss	($97,231	)	($80,634	)	($95,793	)	($47,968	)	($28,706	)
Add: fixed charges	14,013		10,612		10,909		11,153		10,558
Total loss	($83,218	)	($70,022	)	($84,884	)	($36,815	)	($18,148	)
Fixed charges:
Interest expense on indebtedness (including amortization of financing costs)	$13,172		$  9,830		$10,176		$10,553		$10,066
Estimated interest portion of rental expense	841		782		733		600		492
Total fixed charges	$14,013		$10,612		$10,909		$11,153		$10,558
Ratio of Earnings to Fixed Charges	(5.94	)	(6.60	)	(7.78	)	(3.30	)	(1.72	)
Deficiency of Earnings Available to Cover Fixed Charges	($97,231	)	($80,634	)	($95,793	)	($47,968	)	($28,706	)

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