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Investment in Related Party
 12 Months Ended
Dec. 31, 2023
Investment in Related Party [Abstract]  
INVESTMENT IN RELATED PARTY

19. INVESTMENT IN RELATED PARTY

 

   Year ended
December 31,		 
Group  2023   2022 
   $000   $000 
Investment in Accustem Sciences Inc   1,806    2,675 
Movement in fair value   (969)   (869)
    837    1,806 

  

The share price of Accustem as of December 31, 2023 was $.63, which has resulted in the recognition of a fair value loss of $1,049k. This has been measured using the Level 1per IFRS 13 fair value hierarchy. Accustem Sciences Inc is listed on the OTC markets and is run by a separate management team which is independent of the Tiziana management team. Tiziana is therefore not able to assert significant influence over Accustem Sciences Inc.

 

Group  2023   2022 
   $000   $000 
Investment in Okyo Pharma Ltd   3,150    
-
 
Movement in fair value   567    
-
 
    3,717    
-
 

  

The Group acquired 2.1m shares of Okyo Pharma Ltd. on October 23, 2023 which is a 15.57% ownership. The share price of Okyo Pharma Ltd as of December 31, 2023 was $1.77, which has resulted in the recognition of a fair value gain of $567k. This has been measured using the Level 1per IFRS 13 fair value hierarchy. Okyo Pharma Ltd is listed on the OTC markets and is run by a separate management team which is independent of the Tiziana management team. Tiziana is therefore not able to assert significant influence over Okyo Sciences Inc.