The church was founded around 1250 by the Despot of Epirus Michael II Komnenos Doukas, or perhaps someone in his court.
[1] At some point, the church was damaged, and it was then restored in 1290 by Michael II's son and successor, Nikephoros I Komnenos Doukas (r. 1268–1297) and his second wife Anna Kantakouzene.
[2] The church eventually became bankrupt, and was turned into a dependency (metochion) of the Monastery of Kato Panagia.
[2][3] Its interior decoration is rich, with marble revetment up to the level of the galleries, and extensive surviving mosaics and frescoes above that.
[3] The church's decoration also displays a number of Western influences in its sculptural program, such as Romanesque monsters and reliefs depicting Biblical scenes.