The Singapore Biomedical Sciences (BMS) initiative was launched in June 2000 to develop the Biomedical Sciences cluster as one of the key pillars of Singapore's economy, alongside Electronics, Engineering and Chemicals. To achieve its aim, the BMS initiative is led and coordinated both by a Steering Committee on Life Sciences, comprising the Ministers for Trade & Industry, Health and Education, and an Executive Committee, chaired by A*STAR Chairman and the Permanent Secretary for Health. The Executive Committee draws on the combined experience of the Biomedical Sciences International Advisory Council (BMS IAC) comprising renowned scientists for strategic advice and guidance.

Three key agencies work in close coordination and in an integrated fashion to develop the BMS cluster: the Biomedical Research Council (BMRC) of the Agency for Science, Technology and Research (A*STAR) funds and supports public research initiatives, the Economic Development Board's (EDB) Biomedical Sciences Group (BMSG) promotes private sector manufacturing and R&D activities, and EDB's Bio*One Capital functions as an investment arm. This integrated approach involves various initiatives such as establishing the research infrastructure, supporting the industry, providing venture capital support and strengthening manpower capabilities.

The first phase of development (2000 - 2005) focused on establishing a firm foundation of basic biomedical research in Singapore. BMRC's five research institutes develop core public research capabilities in the areas of bioprocessing; chemical synthesis; genomics and proteomics; molecular and cell biology; bioengineering and nanotechnology and computational biology. In a partnership between BMRC and sister council, the Science and Engineering Research Council, the Institute of Chemical and Engineering Sciences' Chemical Synthesis Laboratory @ Biopolis provides capabilities in chemistry. All these support the BMS cluster, comprising the four key sectors: pharmaceuticals, biotechnology, medical technology and healthcare services.

The next phase of development (2006 - 2010) will focus on strengthening capabilities in translational and clinical research, which are essential to translate basic discoveries in the lab into clinical applications to improve human healthcare. BMRC's Singapore Institute for Clinical Sciences (SICS) and Institute of Medical Biology (IMB) focus on translational and clinical research to bridge the gap between bench and bedside. BMRC has also launched consortial initiatives, which place a significant emphasis on translational research, in strategic areas, such as the Singapore Cancer Syndicate, Singapore Bioimaging Consortium, Singapore Stem Cell Consortium, Singapore Consortium of Cohort Studies and Singapore Immunology Network. These consortia also optimize Singapore's available resources, allowing for integrated development in strategic areas of biomedical research.