The high-resolution power for monitoring molecular dynamics and interactions exploiting single molecule fluorescence resonance energy transfer (smFRET) allows viewing of biomolecular machineries in action, a unique breakthrough highly useful in multiple life sciences applications. It will also greatly aid structure-activity relationship (SAR) studies for drug discovery/lead optimization applications, opening new avenues for structure-guided rational drug design. Furthermore, the technology is well suited for clinical diagnostic applications by offering the prospect of minimizing costly reagent and precious patient sample requirements while maximizing clinical information content as well as profit margins. It is the first SMD-based platform technology that permits multiplexed detection of both nucleic acid and protein targets. It is suitable for automation and integration into the clinical laboratory work flow, implementing microfluidics and high-throughput components. The technology is distinct from other currently available approaches offering several competitive advantages: