Fresh out of a post doctoral fellowship at the National Institutes of Health, Dr. Wolfe felt called to academia, serving as an assistant professor of pharmaceutical sciences at the University of Tennessee. While teaching, she began designing research programs, an activity which required raising funds, hiring people, and forming her own operations team. As she combined her love for science with her passion for free enterprise, Dr. Wolfe laid the foundation for her future career as an entrepreneur.
When her family moved to the Boston area in 1999, Dr. Wolfe recognized the abundance of emerging biotech and pharmaceutical companies in the Boston area and foresaw high demand for experienced pharmaceutical chemists. In 1999, she rented a 2,000 square foot facility in Newton, MA and formed WLI.
The company was founded on Dr. Wolfe’s insight that the physicochemical, metabolic and pharmacokinetic properties of an experimental therapeutic strongly influence its success in attaining commercialization. In 2001, she narrowed her focus to laboratory-based contract research and secured small, early stage drug development projects. Each year, she would re-invest the revenue and continue to grow the company by anticipating demand and evolving with the ever-changing marketplace.
Success and Expansion of the Company
The pharmaceutical industry demands innovation and keen business acumen. Wolfe Laboratories has stayed ahead of the competition by customizing pre-clinical discovery and development services for clients. Many customers have advanced their programs through various stages in clinical trials and successfully licensed products for commercial use. Growing client referrals have augmented continued growth since the company’s inception.
Wolfe Laboratories’ commitment to excellence and innovative thinking has enabled the company to boast nine years of profitability and multi-million dollar revenue. From the initial efforts of just one person, WLI currently staffs unique, scientifically diverse and talented employees. The company has recently moved to a 21,000 square foot facility with state-of-the-art laboratories in Watertown. This move is a product of a careful business strategy and is a milestone in the continued growth of WLI.
However, Dr. Wolfe never stops looking to the future and preparing for the next big step. She is positioning the company to bring ever-increasing value to clients by working at earlier stages in drug development programs to improve their likelihood of success. Dr. Wolfe also plans to involve WLI in the development of emerging drugs for malaria, tuberculosis and other diseases of poverty by aligning WLI with not-for-profit drug development organizations.
Wolfe’s Culture: Commitment to Workplace Excellence
Beneath the white lab coats and safety goggles at WLI, there are cyclists, independent film enthusiasts, war veteran tutors, and youth educators. The company encourages community involvement among its employees by supporting their respective organizations and hobbies. For example, WLI sponsored employee riders in the Pan-Mass Challenge, a bike race that benefits the Jimmy Cancer Research Fund. To spotlight the talents of an employee active in independent films, some of the company’s quarterly meetings are held at a local theater and include a short film festival.
Within WLI’s culture, the values of its employees are the most prominent characteristic. Integrity, excellence and teamwork are the three core values on which WLI was founded. The company also has a strong commitment to social responsibility, which is why in celebration of its 10 year anniversary WLI partnered with United Way to raise money for United Way’s Math, Science and Technology initiative (MSTi) and other youth programs. WLI continues to coordinate United Way site visits for children, where some of WLI’s highest ranking scientists encourage girls to pursue careers in science. Wolfe Laboratories also pledges monetary support to the American Cancer Society, Alzheimer’s Association and Cystic Fibrosis Foundation. The company is also currently developing a program to donate time and resources to Veterans Upward Bound. Overall, WLI advocates harmony between employees’ values and the values of the company to create an atmosphere that is quite different than the typical laboratory setting.
Upon entering WLI, one is greeted by an art gallery featuring employees’ photography, a gym complete with weights and cardio equipment, a fully stocked scientific library, flyers announcing the topic for the weekly internal seminar series, an area for book swapping, and many other initiatives to encourage workplace excellence. The company’s work environment is a culture that challenges employees to continually develop professionally and personally. The end result is a staff of dynamic and motivated employees who are sharing in their leader’s vision of excellence and integrity.
Accolades, Awards, and Accomplishments
1999, WLI was founded
2000, WLI celebrated its first year of profitability
2001, Dr. Wolfe narrowed her focus to laboratory-based contract research and secured small, early stage drug development projects
2002, WLI received its first major contract of $250,000 for a cardiology drug
2005, WLI experienced 100% revenue growth
2005. WLI relocated to a 11,000 square foot facility in Watertown
2007, WLI was ranked as one of the top 100 woman-led businesses in Massachusetts by The Commonwealth Institute
2007, WLI relocated to a 21,000 square foot facility in Watertown
2008, Dr. Wolfe was named Entrepreneur to Watch by MIT Enterprise Forum
2008, Dr. Wolfe was named Boston’s Entrepreneur of the Year by the Greater Boston Chamber of Commerce
2009, WLI celebrated its 10 year anniversary and hosted the Wolfe Biopharma Conference and United Way Fundraiser to raise money for underprivileged youth
2009, WLI was awarded a $500,000 Accelerator Loan from Massachusetts Life Sciences Center for the addition of aseptic fill/finish program
2009, WLI established its first advisory board comprised of influential leaders well known in the biopharmaceutical field
2009, Dr. Wolfe was awarded the Leadership Prize from Women Entrepreneurs in Science and Technology
2009, Dr. Wolfe was named Ernst & Young’s Entrepreneur of the Year award finalist in New England – the world’s most prestigious business award for entrepreneurs
2010, Wolfe Laboratories won the Blue Ribbon Small Business Award from the U.S. Chamber of Commerce
2010, Wolfe Laboratories is one of seven regional finalists in the U.S. Chamber of Commerce's 2010 DREAM BIG Small Business of the Year Award
2010, Dr. Wolfe was named PharmaVoice's 100 Most Inspiring Entrepreneurs in the Life Sciences
Wolfe's Awards and Recognitions by the Following Organizations
