Yes, LIPASES is a Scrabble word!

Letter values in Scrabble US: L 1, I 1, P 3, A 1, S 1, E 1, S 1.

Is it a valid word?

LIPASES is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

an enzyme secreted in the digestive tract that catalyzes the breakdown of fats into individual fatty acids that can be absorbed into the bloodstream