The problem is getting the data: a list of papers and their references/bibliography. The great thing about the arXiv is that the papers are open-access, that it is updated daily, and that the daily-update is immediately available to data-mining. Is there a similar thing for med/biomed?
Unfortunately no. Many med/bio publications are subscription only. To do something like paperscape, you would need a massive corpus of papers, which would really cost a lot. Pubmed only has abstracts, not the citations from the paper.
That's true, but coverage of seminal papers is not that great in Pubmed central from my experience. This may change now that there is a push for all publicly funded research to become open access immediately or after 1 or 2 years.