A drug used to treat acute lymphoblastic leukemia (ALL). It is a form of the drug asparaginase that is linked to a substance called PEG, which makes the drug stay in the body longer. Asparaginase is an enzyme that breaks down the amino acid asparagine and may block the growth of tumor cells that need asparagine to grow. It is a type of protein synthesis inhibitor. Also called PEG-asparaginase and pegaspargase.