We present a new machine learning approach for 3D-QSAR, the task of predicting binding affinities of molecules to target proteins based on 3D structure. Our approach predicts binding affinity by using regression on substructures discovered by relational learning. We make two contributions to the state-of-the-art. First, we use multiple-instance (MI) regression, which represents a molecule as a set of 3D conformations, to model activity. Second, the relational learning component employs the "Score As You Use" (SAYU) method to select substructures for their ability to improve the regression model. This is the first application of SAYU to multipleinstance, real-valued prediction. We evaluate our approach on three tasks and demonstrate that (i) SAYU outperforms standard coverage measures when selecting features for regression, (ii) the MI representation improves accuracy over standard single feature-vector encodings and (iii) combining SAYU with MI regression is more accurate fo...