Exhibit 21.1




                 Subsidiaries of Targeted Genetics Corporation



     Targeted Genetics Corporation has four subsidiaries as of December 31,
2003, as follows:


Name of Subsidiary                         Jurisdiction of Incorporation
-----------------------------          ---------------------------------------

CellExSys, Inc.                            Washington
Emerald Gene Systems, Ltd.                 Bermuda
Genovo, Inc.                               Delaware
TGCF Manufacturing, Inc.                   Washington