Exhibit 12.1

CURAGEN CORPORATION AND SUBSIDIARY

RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratio data)



|                                                                             |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|---------------------------------------------------------------------------- |  | ----------------------- | ------- | - | ---- | - | ------- | ---- |  | - | ------- | - |  | ---- | ------- | - |  | - | ------- | -
|                                                                             |  | Year Ended December 31, |        
|                                                                             |  | 2005                    |         |   | 2004 |   |         | 2003 |  |   | 2002    |   |  | 2001 |        
|Loss:                                                                        |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Loss before income tax benefit and minority interest in subsidiary loss      |  | $                       | (75,605 | ) |      | $ | (97,231 | )    |  | $ | (80,634 | ) |  | $    | (95,793 | ) |  | $ | (47,968 | )
|Add: Fixed charges                                                           |  |                         | 10,714  |   |      |   | 14,000  |      |  |   | 10,623  |   |  |      | 10,909  |   |  |   | 11,153  |  
|                                                                             |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total loss                                                                   |  | $                       | (64,891 | ) |      | $ | (83,231 | )    |  | $ | (70,011 | ) |  | $    | (84,884 | ) |  | $ | (36,815 | )
|                                                                             |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Fixed charges:                                                               |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Interest expense on indebtedness (including amortization of financing costs) |  | $                       | 9,864   |   |      | $ | 13,172  |      |  | $ | 9,830   |   |  | $    | 10,176  |   |  | $ | 10,553  |  
|Estimated interest portion of rental expense                                 |  |                         | 850     |   |      |   | 828     |      |  |   | 793     |   |  |      | 733     |   |  |   | 600     |  
|                                                                             |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total fixed charges                                                          |  | $                       | 10,714  |   |      | $ | 14,000  |      |  | $ | 10,623  |   |  | $    | 10,909  |   |  | $ | 11,153  |  
|                                                                             |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Ratio of Earnings to Fixed Charges                                           |  |                         | (6.06   | ) |      |   | (5.94   | )    |  |   | (6.59   | ) |  |      | (7.78   | ) |  |   | (3.30   | )
|                                                                             |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Deficiency of Earnings Available to Cover Fixed Charges                      |  | $                       | (75,605 | ) |      | $ | (97,231 | )    |  | $ | (80,634 | ) |  | $    | (95,793 | ) |  | $ | (47,968 | )
|                                                                             |  |                         |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |