PubMed, the main literature repository for the life sciences, contains more than 23 million publication references. In average nearly two publications per minute are added. There is a wealth of knowledge hidden in unstructed format in these publications that needs to be structured, linked, and semantically annotated so that it becomes actionable knowledge. We present an approach towards large-scale processing of biomedical literature in order to extract domain entities and semantic relationships among them. We describe some practical applications of the resulting knowledge base.