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This is a fluorescently labeled substrate designed for the continuous and sensitive monitoring of Sphingosine 1-phosphate lyase (S1P lyase) activity. S1P lyase is the final enzyme responsible for the irreversible breakdown (catabolism) of Sphingosine 1-phosphate (S1P). S1P is a critical lipid signal that mediates cell survival, migration, and vascular function via five G protein-coupled receptors. S1P lyase is required to maintain the S1P gradient that controls lymphocyte trafficking, making the enzyme a compelling therapeutic target for autoimmune disorders and certain cancers.