Portage Biotech (PRTG) 20-F 31 Jul 23 2022 FY Annual report (foreign) Financial data

Cover

Cover - shares	12 Months Ended
	Mar. 31, 2023	Jul. 31, 2023
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--03-31
Entity File Number	001-40086
Entity Registrant Name	Portage Biotech Inc.
Entity Central Index Key	0001095435
Entity Incorporation, State or Country Code	A6
Entity Address, Address Line One	Clarence Thomas Building
Entity Address, Address Line Two	P.O. Box 4649
Entity Address, Address Line Three	Road Town
Entity Address, City or Town	Tortola
Entity Address, Country	VG
Entity Address, Postal Zip Code	VG1110.
Title of 12(b) Security	Ordinary Shares, no par value
Trading Symbol	PRTG
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,801,391
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	688
Auditor Name	Marcum LLP
Auditor Location	Melville, NY
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	61 Wilton Road
Entity Address, City or Town	Westport
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06880
City Area Code	203
Local Phone Number	221.7378
Contact Personnel Name	Ian Walters

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Current assets
Cash and cash equivalents	$ 10,545	$ 23,352
Prepaid expenses and other receivables	2,689	1,480
Convertible note receivable	442
Total current assets	13,676	24,832
Non-current assets
Investment in associate	806	1,673
Investment in private company	2,087	7,409
Goodwill		43,324
In-process research and development	81,683	117,388
Deferred commitment fee	839
Other assets, including equipment, net	38	36
Total non-current assets	85,453	169,830
Total assets	99,129	194,662
Current liabilities
Accounts payable and accrued liabilities	1,865	750
Warrant liability		33
Total current liabilities	1,865	783
Non-current liabilities
Deferred tax liability	10,564	28,445
Deferred purchase price payable - Tarus	7,179
Deferred obligation - iOx milestone	4,126
Total non-current liabilities	21,869	28,445
Total liabilities	23,734	29,228
Shareholders’ Equity
Capital stock	218,782	158,324
Stock option reserve	21,204	16,928
Accumulated other comprehensive (loss) income	(4,325)	958
Accumulated deficit	(159,616)	(55,005)
Total equity attributable to owners of the Company	76,045	121,205
Non-controlling interest	(650)	44,229
Total equity	75,395	165,434
Total liabilities and equity	$ 99,129	$ 194,662

Consolidated Statements of Oper

Consolidated Statements of Operations and Other Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Expenses
Research and development	$ 8,214	$ 6,769	$ 7,312
General and administrative expenses	8,361	8,819	5,128
Loss from operations	(16,575)	(15,588)	(12,440)
Change in fair value of deferred purchase price payable - Tarus and deferred obligation - iOx milestone	2,711
Impairment loss - iOx IPR&D	(59,320)
Impairment loss - Tarus IPR&D	(4,585)
Impairment loss - Goodwill	(43,862)
Impairment loss - Stimunity	(818)
Share of loss in associate accounted for using equity method	(260)	(62)	(490)
Change in fair value of warrant liability	33	852	(790)
Loss on equity issued at a discount			(1,256)
Loss on extinguishment of notes payable			(223)
Gain on sale of marketable equity securities			72
Gain on disposition of subsidiaries			412
Foreign exchange transaction (loss) gain	(53)	24
Depreciation expense	(1)
Interest income	217
Interest expense	(9)	(43)	(177)
Loss before provision for income taxes	(122,522)	(14,817)	(14,892)
Income tax benefit (expense)	17,856	(4,352)	(2,297)
Net loss	(104,666)	(19,169)	(17,189)
Other comprehensive income (loss)
Net unrealized loss on investments	(5,283)
Total comprehensive loss for year	(109,949)	(19,169)	(17,189)
Net loss attributable to:
Owners of the Company	(104,611)	(16,870)	(15,833)
Non-controlling interest	(55)	(2,299)	(1,356)
Comprehensive loss attributable to:
Owners of the Company	$ (109,894)	$ (16,870)	$ (15,833)
Loss per share
Basic and diluted	$ (6.49)	$ (1.29)	$ (1.35)
Weighted average shares outstanding
Basic and diluted	16,119	13,060	11,733

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Issued capital [member]	Stock Option Reserve [Member]	Accumulated Other Comprehensive Income Loss [Member]	Retained earnings [member]	Equity attributable to owners of parent [member]	Non-controlling interests [member]	Total
Beginning balance, value at Mar. 31, 2020	$ 117,817	$ 58	$ 958	$ (22,302)	$ 96,531	$ 49,110	$ 145,641
Begnning Balance, shares at Mar. 31, 2020	10,988
IfrsStatementLineItems [Line Items]
Issued under private placement	$ 6,980				6,980		6,980
Issued under private placement, shares	698
Share issuance costs	$ (248)				(248)		(248)
Net unrealized loss on investments
Share-based compensation expense		7,977			7,977	850	8,827
Exchange of SalvaRx warrants for Portage warrants	2,640				2,640		2,640
Settlement of non-controlling interest in SalvaRx Limited	2,451				2,451	(2,451)
Warrant liability at contract price	(330)				(330)		(330)
Fair value adjustment for shares issued at a discount in SalvaRx Limited	$ 1,256				1,256		1,256
Fair value adjustment for shares issued at a discount in SalvaRx Limited, shares	397
Shares issued for services	$ 25				25		25
Shares issued for services, shares	1
Expiration of unexercised stock options	$ 58	(58)
Net loss for period				(15,833)	(15,833)	(1,356)	(17,189)
Ending balance, value at Mar. 31, 2021	$ 130,649	7,977	958	(38,135)	101,449	46,153	147,602
Ending Balance, shares at Mar. 31, 2021	12,084
IfrsStatementLineItems [Line Items]
Share issuance costs	$ (1,877)				(1,877)		(1,877)
Shares issued or accrued for services	$ 120				120		120
Shares issued or accrued for services, shares	8
Net unrealized loss on investments
Warrants exercised	$ 339				339		$ 339
Warrants exercised, shares	16						16,000
Exchange of notes payable and accrued interest for iOx shares						184	$ 184
Share-based compensation expense		8,951			8,951	191	$ 9,142
Shares issued to Lincoln for commitment fee under Committed Purchase Agreement, shares
Shares issued under ATM	$ 2,643				2,643		$ 2,643
Shares issued under ATM, shares	91
Shares issued under offering	$ 26,450				26,450		26,450
Shares issued under offering, shares	1,150
Net loss for period				(16,870)	(16,870)	(2,299)	(19,169)
Ending balance, value at Mar. 31, 2022	$ 158,324	16,928	958	(55,005)	121,205	44,229	165,434
Ending Balance, shares at Mar. 31, 2022	13,349
IfrsStatementLineItems [Line Items]
Share issuance costs	$ (90)				(90)		(90)
Shares issued or accrued for services	$ 120				120		120
Shares issued or accrued for services, shares	20
Net unrealized loss on investments			(5,283)		(5,283)		$ (5,283)
Warrants exercised, shares
Share-based compensation expense		4,276			4,276		$ 4,276
Shares issued in Tarus acquisition	$ 17,200				17,200		17,200
Shares issued in Tarus acquisition, shares	2,426
Shares issued in iOx exchange	$ 9,737				9,737	(9,737)
Shares issued in iOx exchange, shares	1,070
Deferred obligation - iOx milestone						(5,478)	(5,478)
Excess of non-controlling interest acquired over consideration - iOx	29,609				29,609	(29,609)
Shares issued to Lincoln for commitment fee under Committed Purchase Agreement	$ 900				900		$ 900
Shares issued to Lincoln for commitment fee under Committed Purchase Agreement, shares	94						94,000
Shares issued under ATM	$ 944				944		$ 944
Shares issued under ATM, shares	167
Purchase of shares issued under Committed Purchase Agreement	$ 2,038				2,038		2,038
Purchase of shares issued under Committed Purchase Agreement, shares	480
Net loss for period				(104,611)	(104,611)	(55)	(104,666)
Ending balance, value at Mar. 31, 2023	$ 218,782	$ 21,204	$ (4,325)	$ (159,616)	$ 76,045	$ (650)	$ 75,395
Ending Balance, shares at Mar. 31, 2023	17,606

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss for the year	$ (104,666)	$ (19,169)	$ (17,189)
Adjustments for non-cash items:
Share-based compensation expense	4,276	9,142	8,827
Change in fair value of deferred purchase price payable – Tarus and deferred obligation – iOx milestone	(2,711)
(Decrease) increase in deferred tax liability	(17,881)	4,394	2,446
Share of loss in associate	260	62	490
Change in fair value of warrant liability	(33)	(852)	790
Fair value of shares issued for services	120	120	25
Foreign exchange transaction gain	(14)
Depreciation	1
Gain on sale of marketable equity securities			(72)
Loss on equity issued at a discount			1,256
Amortization of debt discount			76
Loss on early extinguishment of debt			223
Gain on disposition of subsidiaries			(412)
Changes in operating working capital:
Accounts receivable	(31)	522	(111)
Prepaid expenses and other receivables	(1,201)	355	(1,477)
Other assets	24	(165)	(36)
Accounts payable and accrued liabilities	1,114	(1,212)	880
Other	84	39
Net cash used in operating activities	(12,073)	(6,764)	(4,284)
Cash flows from investing activities:
Purchase of convertible note receivable	(614)
Purchase of equipment	(3)
Proceeds from sale of marketable securities			140
Investment in associates			(1,000)
Net cash used in investing activities	(617)		(860)
Cash flows from financing activities:
Repayment of notes payable assumed in Tarus acquisition	(2,000)
Repayment of milestone obligation assumed in Tarus acquisition	(1,009)
Proceeds from shares issued under ATM and Committed Purchase Agreement	2,982
Proceeds from shares issued under registered offering		29,093	6,980
Share issuance costs	(90)	(1,852)	(248)
Proceeds from exercise of stock purchase warrants		105
Repayment of unsecured notes payable			(1,020)
(Repayment of) proceeds from advance from related party			(1,000)
Note proceeds received			50
Net cash (used in) provided by financing activities	(117)	27,346	4,762
(Decrease) increase in cash and cash equivalents during year	(12,807)	20,582	(382)
Cash and cash equivalents at beginning of year	23,352	2,770	3,152
Cash and cash equivalents at end of year	10,545	23,352	2,770
Supplemental disclosure of cash flow information:
Cash paid for interest		19	748
Increase in accounts payable for stock issuance costs		25
Supplemental disclosure of non-cash investing and financing activities:
Fair value of shares issued for Tarus	17,200
Fair value of shares issued for non-controlling interest purchase of iOx	9,737
Fair value of deferred purchase price payable - Tarus	8,538
Fair value of deferred obligation - iOx milestone	5,478
Liabilities assumed in Tarus acquisition	3,000
Fair value of shares issued for commitment fees - Committed Purchase	900
Net unrealized loss on investments in Intensity and Stimunity Convertible Note	(5,283)
Exchange of iOx shares for settlement of notes payable, accrued interest and warrants		184
Shares issued pursuant to settlement of SalvaRx Notes and warrants			2,640
Notes payable settled in disposition of subsidiaries			200
I Ox I P R D [Member]
Adjustments for non-cash items:
Impairment loss	59,320
Tarus I P R D [Member]
Adjustments for non-cash items:
Impairment loss	4,585
Goodwill [member]
Adjustments for non-cash items:
Impairment loss	43,862
Stimunity [Member]
Adjustments for non-cash items:
Impairment loss	$ 818

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Mar. 31, 2023
Nature Of Operations
NATURE OF OPERATIONS	NOTE 1. NATURE OF OPERATIONS Portage Biotech Inc. (the “Company” or “Portage”) is incorporated in the British Virgin Islands (“BVI”) with its registered office located at Clarence Thomas Building, P.O. Box 4649, Road Town, Tortola, BVI. Its USA agent, Portage Development Services Inc. (“PDS”), is located at 61 Wilton Road, Westport, CT, 06880, USA. The Company is a foreign private issuer under the Securities and Exchange Commission (the “SEC”) rules. It is also a reporting issuer under the securities legislation of the provinces of Ontario and British Columbia. Its ordinary shares were listed on the Canadian Securities Exchange (“CSE”) under the symbol “PBT.U”. On February 25, 2021, the ordinary shares of the Company began trading on the Nasdaq Capital Market (“Nasdaq”) under the symbol “PRTG”. As the principal market for the Company’s ordinary shares is Nasdaq, the Company voluntarily delisted from the CSE on April 23, 2021. Portage is a clinical-stage immuno-oncology company advancing therapies that target known checkpoint resistance pathways to improve long-term treatment response and quality of life in patients with evasive cancers. Portage’s access to next-generation technologies coupled with a deep understanding of biological mechanisms enable the identification of clinical therapies and product development strategies that accelerate these medicines through the translational pipeline. Portage’s portfolio consists of four diverse platforms, with lead programs including invariant natural killer T-cell (“iNKT”) engagers and a suite of treatments targeting the adenosine pathway. Additional programs leverage delivery by intratumorals, nanoparticles, liposomes, aptamers, and virus-like particles. Within these four platforms, Portage has 9 product candidates currently in development with multiple clinical readouts expected through the end of calendar year 2023. On August 13, 2018, the Company reached a definitive agreement to acquire 100 8,050,701 In September 2021, the Company, through SalvaRx, exchanged certain notes, accrued interest, warrants and receivables in exchange for shares of iOx representing 60.49 60.49 78.32 See Note 19, “Related Party Transactions – Share Exchange Agreement – iOx,” for a further discussion.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
GOING CONCERN	NOTE 2. GOING CONCERN As of March 31, 2023, the Company had cash and cash equivalents of approximately $ 10.5 1.9 104.7 12.1 7.7 The Company’s cash and cash equivalents balance is decreasing, and we will not generate positive cash flows from operations for the year ending March 31, 2024. The Company may have to delay, scale-back, or eliminate certain of its activities and other aspects of its operations until such time as the Company is successful in securing additional funding. The Company is exploring various dilutive and non-dilutive sources of funding, including equity and debt financings, strategic alliances, business development and other sources. The future success of the Company is dependent upon its ability to obtain additional funding. There can be no assurance, however, that the Company will be successful in obtaining such funding in sufficient amounts, on terms acceptable to the Company, or at all. As of the date of this filing, the Company currently anticipates that current cash and cash equivalents, excluding any potential proceeds from its ATM program and Committed Purchase Agreement with Lincoln Park, access to which are generally limited, based on the Company’s Nasdaq trading volume, will be sufficient to meet its anticipated cash requirements through the end of October 2023. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these financial statements are issued. The Company has incurred substantial operating losses since inception and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. The losses result primarily from its conduct of research and development activities. The Company historically has funded its operations principally from proceeds from issuances of equity and debt securities. The Company will require significant additional capital to make the investments it needs to execute its longer-term business plan, beyond the potential proceeds that could be reasonably generated from its ATM program and Committed Purchase Agreement with Lincoln Park given the Company’s current trading volume on Nasdaq. The Company's ability to successfully raise sufficient funds through the sale of debt or equity securities when needed is subject to many risks and uncertainties and, future equity issuances would result in dilution to existing stockholders and any future debt securities may contain covenants that limit the Company's operations or ability to enter into certain transactions. The Company has incurred substantial operating losses since inception and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. The losses result primarily from its conduct of research and development activities. The Company historically has funded its operations principally from proceeds from issuances of equity and debt securities and would expect to enter the capital markets if additional funding is required.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
BASIS OF PRESENTATION	NOTE 3. BASIS OF PRESENTATION Statement of Compliance and Basis of presentation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee. These consolidated financial statements have been prepared on an historical cost basis except for items disclosed herein at fair value (see Note 20, “Financial Instruments and Risk Management”). In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cash flow information. The Company has only one reportable operating segment. These consolidated financial statements were approved and authorized for issuance by the Audit Committee and Board of Directors (the “Board”) on July 31, 2023. Consolidation The consolidated financial statements include the accounts of the Company and: (a) SalvaRx, a wholly-owned subsidiary, incorporated on May 6, 2015 in the British Virgin Islands; (b) iOx, a wholly-owned subsidiary incorporated in the U.K. on February 10, 2015. In September 2021, the Company, through SalvaRx, exchanged certain notes, accrued interest, warrants and receivables in exchange for shares of iOx representing 60.49 60.49 78.32 See Note 19, “Related Party Transactions – Share Exchange Agreement – iOx,” for a further discussion; (c) Saugatuck, a 70 (d) PDS, a 100 (e) SalvaRx LLC, a wholly-owned subsidiary through SalvaRx; (f) Saugatuck Rx LLC, a wholly-owned subsidiary of Saugatuck; and (g) Tarus Therapeutics, LLC (“Tarus”), a wholly-owned subsidiary of Portage. All inter-company balances and transactions have been eliminated in consolidation. Non-controlling interest in the equity of a subsidiary is accounted for and reported as a component of stockholders’ equity. As of March 31, 2023, non-controlling interest represents the 30 Functional and Presentation Currency The Company’s functional and presentation currency is the U.S. Dollar. Use of Estimates and Judgments The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Significant areas where estimates are made include valuation of financial instruments (including the Stimunity Convertible Note (as defined below), deferred tax assets and liabilities, research and development costs, fair value used for acquisition of intangible assets, contingent consideration assumed and measurement of share-based compensation. Significant areas where critical judgments are applied include assessment of impairment of investments, goodwill and in-process research and development and the determination of the accounting acquirer and acquiree in the business combination accounting.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2023
Significant Accounting Policies
SIGNIFICANT ACCOUNTING POLICIES	NOTE 4. SIGNIFICANT ACCOUNTING POLICIES The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements, which have, in management's opinion, been properly prepared within reasonable limits of materiality and within the framework of the significant accounting policies summarized below: Financial Instruments i) Financial Assets Classification Upon the initial recognition of financial assets, the financial assets are classified as one of the following measurement methodologies: (a) amortized cost, (b) fair value through other comprehensive income (“FVTOCI)”, or (c) fair value through profit or loss (“FVTPL”). Subsequent measurement will be based on the initial classification of the financial assets. The classification of a financial asset at initial recognition depends on the Company's business model for managing the financial asset and the financial asset's contractual cash flow characteristics. In order for a financial asset to be measured at amortized cost or fair value through other comprehensive income (“OCI”), it needs to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Company's business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Measurement For purposes of subsequent measurement, financial assets are classified in three categories: · Financial assets at amortized cost (debt instruments); · Financial assets at FVTOCI (equity instruments); and · Financial assets at FVTPL. Financial Assets at Amortized Cost (Debt Instruments) The Company measures financial assets at amortized cost if both of the following conditions are met: · The financial asset is held within a business model with the objective of holding the financial asset in order to collect contractual cash flows; and · The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest rate method and are subject to a period impairment review. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. The Company's financial assets classified at amortized cost includes other receivables. Financial Assets designated at Fair Value through OCI (Equity Instruments) Upon initial recognition, the Company can elect to classify irrevocably its equity investments as equity instruments designated at FVTOCI when they meet the definition of equity under IAS 32, “Financial Instruments: Presentation,” and are not held for trading. The classification is determined on an instrument-by-instrument basis. Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the statement of profit or loss when the right of payment has been established, except when the Company benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment. The Company irrevocably elected to classify its investments in Biohaven Pharmaceuticals Holding Company Ltd. (“Biohaven”) and Intensity as FVTOCI. Financial Assets at Fair Value through Profit or Loss Financial assets at FVTPL include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured FVTPL, irrespective of the business model. Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of profit or loss. The investment in associate (Stimunity) and the Stimunity Convertible Note receivable are accounted for as FVTPL. ii Financial Liabilities The Company's financial liabilities include accounts payable which approximate fair value due to their short maturity and unsecured notes payable assumed in the SalvaRx Acquisition. The unsecured notes payable assumed in the SalvaRx Acquisition are recorded at fair value on the acquisition date. Warrant Liability and Note Payable The warrants expired and the note payable was settled as part of the Portage Pharmaceuticals Ltd. (“PPL”) disposition in March 2021. At subsequent balance sheet dates the fair value of the warrants was remeasured with movements in the fair value recorded in profit or loss. The loan was recorded at amortized cost and is accounted for using the effective interest method. In March 2021, the Company completed the disposition of its interest in PPL and EyGen Limited (“EyGen”) and these liabilities were settled. In connection with the SalvaRx Acquisition, the Company acquired notes payable and associated warrants, which were recorded at fair value on the date of the acquisition. 33,888 Impairment of Financial Assets IFRS 9, “Financial Instruments,” requires the Company to recognize an allowance for expected credit losses ("ECLs") for all debt instruments and investments not held at fair value through profit or loss and contract assets. For intangible assets, at the end of each reporting period and whenever there is an indication that the intangible asset may be impaired, the Company reviews the carrying amounts of its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. At the end of each reporting period, the Company assesses whether there was objective evidence that a financial asset was impaired. The Company recognizes an allowance for ECLs for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). Foreign Currencies The functional and presentation currency of the Company and its subsidiaries (see Note 3, “Basis of Presentation”) is the U.S. dollar. Monetary assets and liabilities are translated at exchange rates in effect at the balance sheet date. Non-monetary assets are translated at exchange rates in effect when they were acquired. Revenue and expenses are translated at the approximate average rate of exchange for the period. Foreign currency differences arising on retranslation are recognized in income or loss. The effect of exchange rates on our foreign currency-denominated asset and liability balances are recorded as foreign currency transaction losses in the determination of net income (loss). Cash and Cash Equivalents Cash and cash equivalents comprise cash on hand and amounts invested in underlying Treasury and money market funds that are readily convertible to a known amount of cash with three months or less from date of acquisition and are subject to an insignificant risk of change in value. As of March 31, 2023 and 2022, cash equivalents was comprised of a money market account with maturities less than 90 days from the date of purchase. Intangible Assets acquired in Business Combinations Intangible assets acquired in business combinations that are separable from goodwill are recorded at their acquisition date fair value. Subsequent to initial recognition, intangible assets acquired in business combinations are reported net of accumulated amortization and any impairment losses. Impairment of Indefinite Life Intangible Assets other than Goodwill At the end of each annual reporting period and whenever there is an indication that an indefinite life intangible asset may be impaired, the Company reviews the carrying amounts of such intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of impairment loss (if any). When it is not possible to estimate the recoverable amount of any individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units ("CGU" or "CGUs"), or the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified. Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Share-based Payments The Company determines the fair value of share-based payments granted to directors, officers, employees and consultants using the Black-Scholes option-pricing model at the grant date. Assumptions for the Black-Scholes model are determined as follows: · Expected Volatility. · Expected Term. · Risk-free Interest Rate. · Expected Dividend Yield. Share-based payments to employees, officers and directors are recorded and reflected as an expense over the vesting period with a corresponding increase in the stock option reserve. On exercise, the associated amounts previously recorded in the stock option reserve are transferred to common share capital. (Loss) Per Share Basic (loss) per share is calculated by dividing net (loss) income (the numerator) by the weighted average number of ordinary shares outstanding (the denominator) during the period. Diluted (loss) per share reflects the dilution that would occur if outstanding stock options and share purchase warrants were exercised into ordinary shares using the treasury stock method and convertible debt instruments were converted into ordinary shares using the if-converted method. Diluted (loss) per share is calculated by dividing net (loss) income applicable to ordinary shares by the sum of the weighted average number of ordinary shares outstanding and all additional ordinary shares that would have been outstanding if potentially dilutive common shares had been issued. The share and per share information has been retroactively adjusted to reflect the impact of the stock dividend. The inclusion of the Company's stock options, restricted stock units and share purchase warrants in the computation of diluted loss per share would have an anti-dilutive effect on loss per share and are therefore excluded from the computation. Consequently, there is no difference between basic loss per share and diluted loss per share for the years ended March 31, 2023, 2022 and 2021. The following table reflects the outstanding securities by year that would have an anti-dilutive effect on loss per share, and accordingly, were excluded from the calculation (see Note 17, “(Loss) Per Share”). Schedule of anti-dilutive effect on loss per share As of March 31, 2023 2022 2021 Stock options 1,963,420 1,151,400 868,000 Restricted stock units 378,740 378,740 243,000 Warrants – 33,888 49,701 Investment in Private Company The investment is comprised of shares of private companies that have been acquired through a private placement. The investment is initially recorded at fair value. Following acquisition, the Company evaluates whether control or significant influence is exerted by the Company over the affairs of the investee company. Based on the evaluation, the Company accounts for the investment using either the consolidation, equity accounting or fair value method (see Note 7, “Investment in Private Company”). Investment in Associate An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The results and assets and liabilities of associates are incorporated in these consolidated financial statements using the equity method of accounting, except when the investment, or a portion thereof, is classified as held for sale, in which case it is accounted for in accordance with IFRS 5, “Non-current Assets Held for Sale and Discontinued Operations”. Under the equity method, an investment in an associate is initially recognized in the consolidated statement of financial position at cost from the date the investee becomes an associate and adjusted thereafter to recognize the Company's share of the profit or loss and other comprehensive income of the associate. When the Company's share of losses of an associate exceed the Company's interest in that associate (which includes any long-term interests that, in substance, form part of the Company's net investment in the associate), the Company discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. After application of the equity method, the Company determines whether it is necessary to recognize an impairment loss on its investment in its associate. At each reporting date, the Company determines whether there is objective evidence that the investment in the associate is impaired. If there is such evidence, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognizes the loss within 'share of (loss) income in associate' in the consolidated statements of operations. Research and Development Expenses (i) Research and Development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is expensed as incurred. Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditures are capitalized only if development costs can be measured reliably, the product or process is technically, and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization. Amortization of the asset begins when development is complete and the asset is available for use. It is amortized over the period of expected future benefit. During the period of development, the asset is tested for impairment annually. Research and development expenses include all direct and indirect operating expenses supporting the products in development. (ii) Subsequent Expenditure Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures are recognized in income or loss as incurred. (iii) Clinical Trial Expenses Clinical trial expenses are a component of the Company's research and development costs. These expenses include fees paid to contract research organizations, clinical sites, and other organizations who conduct development activities on the Company's behalf. The amount of clinical trial expenses recognized in a period related to clinical agreements is based on estimates of the work performed using an accrual basis of accounting. These estimates incorporate factors such as patient enrolment, services provided, contractual terms, and prior experience with similar contracts. Contingent Liability A contingent liability is a possible obligation that arises from past events and of which the existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not within the control of the Corporation; or a present obligation that arises from past events (and therefore exists), but is not recognized because it is not probable that a transfer or use of assets, provision of services or any other transfer of economic benefits will be required to settle the obligation; or the amount of the obligation cannot be estimated reliably. Determination of Fair Value A number of the Company's accounting policies and disclosures required the determination of fair value, both for financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. When applicable, further information about the assumptions made in determining fair values is disclosed in Note 20, “Financial Instruments and Risk Management” and other footnotes that specifically relate to assets or liabilities measured at fair value. Income Tax The Company uses the asset and liability method to account for income taxes. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities for accounting purposes, and their respective tax bases. Deferred income tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted and applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in statutory tax rates is recognized in profit or loss in the year of change. Deferred income tax assets are recorded when their recoverability is considered probable and are reviewed at the end of each reporting period. Business Combinations Business combinations are accounted for using the acquisition method as of the date when control transfers to the Company. The total purchase price less the fair value of non-controlling interest is allocated to the acquired net tangible and intangible assets and liabilities assumed at fair value. Transaction costs that the Company incurs in connection with a business combination are expensed as incurred. Goodwill Goodwill represents the excess of the purchase price paid for the acquisition of an entity and the amount recognized for non-controlling interests over the fair value of the net identifiable assets acquired and liabilities assumed. Goodwill is allocated to the CGUs, which are expected to benefit from the synergies of the combination. Goodwill is not subject to amortization and is tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Impairment is determined for goodwill by assessing if the carrying value of a CGU, including the allocated goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs to sell and the value in use. Impairment losses recognized in respect of a CGU are first allocated to the carrying value of goodwill and any excess is allocated to the carrying amount of assets in the CGU. Any goodwill impairment is recorded in income in the period in which the impairment is identified. Impairment losses on goodwill are not subsequently reversed. Recent Accounting Pronouncements IFRS Pronouncements Issued Impact of Adoption of Significant New IFRS Standards in Fiscal 2023 (a) Annual Improvements to IFRS Standards 2018-2020 The annual improvements process addresses issues in the 2018-2020 reporting cycles including changes to IFRS 9, “Financial Instruments,” IFRS 1, “First Time Adoption of IFRS,” IFRS 16, “Leases,” and IAS 41, “Biological Assets”. i) The amendment to IFRS 9 addresses which fees should be included in the 10% test for derecognition of financial liabilities. ii) The amendment to IFRS 1 allows a subsidiary adopting IFRS at a later date than its parent to also measure cumulative translation differences using the amounts reported by the parent based on the parent’s date of transition to IFRS. iii) The amendment to IFRS 16’s illustrative example 13 removes the illustration of payments from the lessor related to leasehold improvements. These amendments were effective for annual periods beginning on or after January 1, 2022. The adoption of these amendments did not have a material effect on the Company’s annual consolidated financial statements. (b) IAS 37: Onerous Contracts – Cost of Fulfilling a Contract The amendment to IAS 37 clarifies the meaning of costs to fulfil a contract and that before a separate provision for an onerous contract is established, an entity recognizes any impairment loss that has occurred on assets used in fulfilling the contract, rather than on assets dedicated to the contract. This amendment is effective for annual periods beginning January 1, 2022. The Company’s adoption of IAS 37 did not have a material effect on its consolidated financial statements. (c) IAS 16: Proceeds Before Intended Use The amendment to IAS 16 prohibits an entity from deducting from the cost of an item of Property, plant and equipment any proceeds received from selling items produced while the entity is preparing the assets for its intended use (for example, the proceeds from selling samples produced when testing a machine to see if it is functioning properly). It also clarifies that an entity is testing whether the asset is functioning properly when it assesses the technical and physical performance of the asset. The amendment also requires certain related disclosures. This amendment is effective for annual periods beginning January 1, 2022. The Company’s adoption of IAS 16 did not have a material effect on its consolidated financial statements. New Accounting Standards, Interpretations and Amendments Standards issued but not yet effective up to the date of issuance of the Company’s consolidated financial statements are listed below. This listing is of standards and interpretations issued, which the Company reasonably expects to be applicable at a future date. The Company intends to adopt those standards when they become effective. (a) IAS 1: Presentation of Financial Statements The amendment to IAS 1 clarifies how to classify debt and other liabilities as either current or non-current. The amendment will be effective for annual periods beginning on or after January 1, 2024. The Company is currently evaluating the new guidance and impacts on its consolidated financial statements. (b) Amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and Its Associate or Joint Venture The amendment addresses the conflict between IFRS 10, “Consolidated Financial Statements,” and IAS 28, “Investments in Associates and Joint Ventures,” in dealing with the loss of control of a subsidiary that is sold or contributed to an associate or joint venture. The amendments clarify that the gain or loss resulting from the sale or contribution of assets that constitute a business, as defined in IFRS 3, “Business Combinations,” between an investor and its associate or joint venture, is recognized in full. Any gain or loss resulting from the sale or contribution of assets that do not constitute a business, however, is recognized only to the extent of unrelated investors' interests in the associate or joint venture. The IASB has deferred the effective date of these amendments indefinitely, but an entity that early adopts the amendments must apply them prospectively. The Company is evaluating whether the adoption of the above amendment will have a material impact on its financial statements.

PREPAID EXPENSES AND OTHER RECE

PREPAID EXPENSES AND OTHER RECEIVABLES	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
PREPAID EXPENSES AND OTHER RECEIVABLES	NOTE 5. PREPAID EXPENSES AND OTHER RECEIVABLES Schedule of prepaid expenses and other receivables As of March 31, (In thousands) 2023 2022 Prepaid clinical research costs $ 1,653 $ – Prepaid insurance 621 1,084 Research & development tax credits 169 169 Tax deposits 119 142 Other receivables 71 40 Other prepaid expenses 56 45 Total prepaid expenses and other receivables $ 2,689 $ 1,480

INVESTMENT IN ASSOCIATE

INVESTMENT IN ASSOCIATE	12 Months Ended
	Mar. 31, 2023
Investment In Associate
INVESTMENT IN ASSOCIATE	NOTE 6. INVESTMENT IN ASSOCIATE Details of the Company’s associate, Stimunity S.A. (“Stimunity”), as of March 31, 2023 and 2022 are as follows: Schedule of investment associate Name Principal Activity Place of Incorporation and Principal Place of Business Voting Rights Held as of March 31, 2023 Voting Rights Held as of March 31, 2022 Associate: Stimunity S.A. Biotechnology Paris, France 44.0 % 44.0 % The following table is a roll-forward of the Company’s investment in Stimunity as of and for the years ended March 31, 2023 and 2022: Schedule of investment in Stimunity S.A. As of and for the Years Ended March 31, (In thousands) 2023 2022 Balance, beginning of year $ 1,673 $ 1,735 Share of loss (260 ) (62 ) Impairment loss (607 ) – Balance, end of year $ 806 $ 1,673 On June 1, 2020, the Company made an additional investment of € 0.9 1.0 2,479 44 The Company accounts for its investment in Stimunity under the equity method and, accordingly, records its share of Stimunity’s earnings or loss based on its ownership percentage. The Company recorded equity in loss in Stimunity of $ 260,000 62,000 490,000 Under the Shareholders’ Agreement, Portage has (i) a preferential subscription right to maintain its equity interest in Stimunity in the event of a capital increase from the issuance of new securities by Stimunity, except for issuances of new securities for stock options under a merger plan or for an acquisition, and (ii) the right to vote against any (a) issuances of additional securities that would call for Portage to waive its preferential subscription right, or (b) any dilutive issuance. The following table illustrates the summarized financial information of the Company's investment in Stimunity S.A: Schedule of details of the Company's associate As of March 31, (In millions) 2023 2022 (Unaudited) (Unaudited) Current assets $ 0.9 $ 1.1 Non-current assets $ – $ – Current liabilities $ 0.8 $ – Non-current liabilities $ 0.1 $ 0.8 Equity $ – $ 0.3 Company's share in equity – 44.0% and 44.0% $ – $ 0.1 Years Ended March 31, 2023 2022 (Unaudited) (Unaudited) Revenue $ 0.1 $ 0.2 Loss from operations $ (0.8 ) $ (0.8 ) Net loss $ (0.6 ) $ (0.4 ) On July 13, 2022, the Company entered into a commitment with Stimunity to provide €600,000 under a convertible note (the “Stimunity Convertible Note”) with a maturity date of September 1, 2023 (the “Maturity Date”). The Stimunity Convertible Note provides for simple interest at 7% per annum. The Stimunity Convertible Note is automatically converted into Series A shares of Stimunity upon Stimunity completing a Series A round for at least €20 million. If such subscription round is completed prior to the Maturity Date, the Company will be entitled to convert the Stimunity Convertible Note into Series A shares of Stimunity at the subscription share price less 15%. Additionally, if Stimunity completes a financing with a new category of shares (other than Common Shares or Series A shares) for at least €5 million (the “Minimum Raise”), the Company will have the right to convert the Stimunity Convertible Note and the historical Series A shares of Stimunity owned into the new category of shares. In the event that Stimunity does not close a financing prior to the Maturity Date or raises less than the Minimum Raise, the Company will have the right to convert the Stimunity Convertible Note into Series A shares at €363.00 per share or the raise price less 15%, whichever is lower. The Stimunity Convertible Note was funded on September 12, 2022. See Note 18, “Commitments and Contingent Liabilities – Stimunity Convertible Note,” for a further discussion. The Stimunity Convertible Note was initially recorded at $ 0.614 0.039 0.653 At March 31, 2023, the Company determined that there were indications of impairment of both the investment in associate and the Stimunity Convertible Note receivable, based upon the inability of Stimunity to obtain financing. The Company performed an IAS 36 fair value analysis evaluating the likelihood of various scenarios given the current market conditions, the increasing cost of capital and development delays associated with Stimunity’s lack of liquidity. The Company recorded provisions of impairment of $ 0.607 0.211 0.806 0.442

INVESTMENT IN PRIVATE COMPANY

INVESTMENT IN PRIVATE COMPANY	12 Months Ended
	Mar. 31, 2023
Investment In Private Company
INVESTMENT IN PRIVATE COMPANY	NOTE 7. INVESTMENT IN PRIVATE COMPANY The following table is a roll-forward of the investments in Intensity as of March 31, 2023 and 2022: (In thousands) Intensity Balance as of April 1, 2021 $ 7,409 Unrealized (loss) gain on investment – Balance as of March 31, 2022 7,409 Unrealized loss on investment (5,322 ) Balance as of March 31, 2023 $ 2,087 The following is a discussion of the Company’s investment in private company as of March 31, 2023 and March 31, 2022. Intensity Therapeutics, Inc. In connection with the SalvaRx Acquisition in fiscal 2019, the Company acquired a $ 4.5 1.0 7.5 On July 11, 2019, the Company entered into an agreement with Fast Forward Innovations Limited (“Fast Forward”) to purchase Intensity Holdings Limited (“IHL”), a wholly-owned subsidiary of Fast Forward. The Company paid $ 1.3 129,806 288,458 1,288,458 There was no As of March 31, 2023 and March 31, 2022, the Company owned approximately 7.00 7.35 4.7 On October 28, 2021, Intensity filed a Form S-1 Registration Statement with the SEC to register shares for an initial public offering (“IPO”), which was declared effective by the SEC, but subsequently withdrawn prior to closing. As of March 31, 2022, the Company had valued its investment in Intensity based on Intensity’s Series C Preferred Stock Offering completed in 2020. The Company will value its investment in Intensity based upon fair value (market price) and will record periodic changes in carrying value through OCI. In October and November of 2022, Intensity filed amendments to its Form S-1 Registration Statement, which reflected a proposed offering price in the range of $ 4.00 5.00 3.363 4.046 644,299 4.00 5.00 2.087 1.276 5.322

ACQUISITION OF TARUS

ACQUISITION OF TARUS	12 Months Ended
	Mar. 31, 2023
Acquisition Of Tarus
ACQUISITION OF TARUS	NOTE 8. ACQUISITION OF TARUS On July 1, 2022, the Company, its wholly-owned subsidiary, Portage Merger Sub I, Inc., its wholly-owned subsidiary, Portage Merger Sub II, LLC and Tarus Therapeutics, Inc., a Delaware corporation advancing adenosine receptor antagonists for the treatment of solid tumors, entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”). Under the structure of the Merger Agreement, Tarus Therapeutics, Inc. was ultimately merged into Portage Merger Sub II, LLC of the Company with the surviving entity renamed Tarus Therapeutics, LLC. The Tarus merger entitles the Company to the rights, know-how and/or ownership related to the assets developed by Tarus (the “Adenosine Compounds”), including: 1. All rights and obligations related to the License Agreement between Tarus and Impetis Biosciences Limited, dated October 29, 2019, and the Call Option under the License Agreement, which was exercised on November 5, 2020; 2. All intellectual property and related documents owned or controlled by Tarus, including issued or pending patents, patent applications and trade secrets. Additionally, any draft submissions and/or correspondence with patent authorities; 3. All documents and supplies related to Adenosine Compounds including inventory, reagents, data, assays, reports, vendor agreements and other information related to the preclinical development; 4. All clinical supplies, manufacturing know-how, batch records, regulatory documents pertaining to the Adenosine Compounds, certain reservations for manufacturing campaigns and any related agreements; 5. All regulatory documents and correspondence pertaining to the Adenosine Compounds; 6. All Contract Research Organization (“CRO”) agreements and protocol related documents for Adenosine Compounds; 7. All current documents related to market research, forecasting, budgets and competitive intelligence; and 8. Rights to the use of Tarus Therapeutics’ name for regulatory purposes. As consideration for Tarus, the Company issued to former Tarus shareholders an aggregate of 2,425,999 18 · The Company also assumed $ 2 · Upon enrolling the first patient in a Phase 2 clinical trial utilizing Tarus’s adenosine receptor antagonists, the Company will pay an additional one-time milestone payment of $ 15 17 In connection with the acquisition of Tarus, the Company performed a fair value analysis of the assets acquired and liabilities assumed. The Company based the analysis on its clinical plan and timing of development events, and the probabilities of success determined primarily based upon empirical third party data and Company experience as well as the relevant cost of capital. In its fair value analysis, the Company used the Multi-Period Excess Earnings Method for PORT-6 and PORT-7 and the Replacement Cost Method for PORT-8 and PORT-9, determined based upon the maturity of the assets and the availability of sufficient data to measure fair value. The Company recorded the ordinary shares issued at $ 17.2 8.538 The Company will determine the fair value of the shares issuable upon achievement of future development and sales milestones at each balance sheet date. Any change to the fair value will be recorded in the Company’s statements of operations and other comprehensive income (loss). The following table summarizes the preliminary purchase price allocation to the fair value of assets acquired and liabilities assumed for Tarus: Schedule of fair value of assets acquired and liabilities assumed Assets: (In thousands) Identifiable intangible assets $ 28,200 Goodwill 538 Total assets $ 28,738 Consideration: Fair value of shares issued $ 17,200 Liabilities assumed 3,000 Deferred purchase consideration at fair value 8,538 Total liabilities $ 28,738 Pro forma Information Summary unaudited pro forma condensed results of operations for the years ended March 31, 2023, 2022 and 2021, assuming the Tarus acquisition had occurred at the beginning of the earliest period presented, are as follows: Schedule of pro forma information Years Ended March 31, (In thousands) 2023 2022 2021 Loss from operations $ (16,277 ) $ (17,931 ) $ (14,873 ) Loss before provision for income taxes $ (122,239 ) $ (17,164 ) $ (17,325 ) Net loss $ (104,383 ) $ (21,516 ) $ (19,622 ) Total comprehensive loss for year $ (109,666 ) $ (21,516 ) $ (19,622 ) Loss per share $ (5.63 ) $ (1.24 ) $ ($1.29 ) These pro forma results are not necessarily indicative of what would have occurred if the acquisition had been in effect for the period presented, and they may not be indicative of results expected in the future.

GOODWILL

GOODWILL	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
GOODWILL	NOTE 9. GOODWILL The following is a roll-forward of goodwill: Schedule of IPR&D projects As of March 31, (In thousands) 2023 2022 Balance, beginning of year $ 43,324 $ 43,324 Tarus goodwill 538 – Loss on impairment (43,862 ) – Balance, end of year $ – $ 43,324 The Company’s goodwill arose primarily from the acquisition of SalvaRx and its portfolio of several projects and investments. As a result of the acquisition of Tarus in July 2022, the Company recorded $ 0.538 28.738 28.200 Under purchase accounting as of July 1, 2022 (the acquisition date), the assets and liabilities of Tarus Therapeutics, Inc., was recorded at their respective fair values and the excess of the acquisition consideration is goodwill. The purchase was in the form of a merger in which Tarus Therapeutics, Inc. was merged into Tarus Therapeutics, LLC., which is a wholly-owned subsidiary of Portage. All of the consideration for Tarus Therapeutics, LLC was paid or assumed by Portage and Portage will control the voting rights, the Board and the operations of Tarus Therapeutics, LLC. As of March 31, 2023, the Company determined that it has only one CGU, the consolidated Portage Biotech Inc. Impairment Review On an annual basis, pursuant to IAS 36, the Company assesses its long-lived assets with definite lives, which are not yet available for use, for potential indicators of impairment. If any such indication exists, the Company estimates the recoverable amount of the asset or CGU and compares it to the carrying value. The Company performed its annual impairment test in each of fiscal 2023 and fiscal 2022 and estimated the recoverable amount of the above-noted CGU based on its value in use, which was determined using a capitalized cash flow methodology and categorized within level 3 of the fair market value hierarchy. The recoverable amount of the CGU has been determined based on its value in use. The recoverable amount considered assumptions based on probabilities of technical, regulatory and clinical acceptances and financial support. Further, management uses risk-adjusted cash flow projections based on financial budgets. Management believes that any reasonably possible change in the key assumptions on which the recoverable amount is based would not cause the carrying amount to exceed its recoverable amount. The discount rate has been determined based on the Company’s best estimate of a risk adjusted discount rate. The key assumptions used in the calculation of the recoverable amount include forecasts of the following: (a) (b) (c) (d) Each asset and liability analyzed was valued independently, as required. Certain assets were valued under the discounted cash flow method and discount rates ranged from 24.5 31.5 As of March 31, 2023, management determined that there were external factors, including the fact that the Company’s market capitalization was less than its net assets. As a result, the Company completed an IAS 36 fair value analyses for all assets required to be tested. The studies evaluated current market conditions, costs of capital, the Company’s development plans and recorded losses on impairment aggregating $ 64.723 43.862

IN-PROCESS RESEARCH AND DEVELOP

IN-PROCESS RESEARCH AND DEVELOPMENT AND DEFERRED TAX LIABILITY	12 Months Ended
	Mar. 31, 2023
In-process Research And Development And Deferred Tax Liability
IN-PROCESS RESEARCH AND DEVELOPMENT AND DEFERRED TAX LIABILITY	NOTE 10. IN-PROCESS RESEARCH AND DEVELOPMENT AND DEFERRED TAX LIABILITY In-process research and development (“IPR&D”) consists of the following projects (in thousands): Schedule of In process research and development Value as of March 31, Project # Description 2023 2022 iOx: PORT 2 (IMM60) Melanoma & Lung Cancers $ 36,181 $ 84,213 PORT 3 (IMM65) Ovarian/Prostate Cancers 21,709 32,997 57,890 117,210 Oncomer/Saugatuck DNA Aptamers 178 178 Tarus: PORT 6 & PORT 7 Adenosine Receptors 22,723 – PORT 8 Adenosine Receptors 420 – PORT 9 Adenosine Receptors 472 – 23,615 – In-process research and development $ 81,683 $ 117,388 Deferred tax liability $ 13,195 $ 30,198 Additionally, at the end of each reporting period, the Company is required to assess whether there is any indication that an asset may be impaired. As indicated above, the Company identified external indicators of potential impairment as of March 31, 2023. Pursuant to IAS 36, the Company evaluated the current capital markets, the increasing costs of capital, and the delays in the timing of asset development and concluded that provisions for impairment were required during the year ended March 31, 2023 with respect to the iOx IPR&D and the Tarus IPR&D. The Company recognized an impairment of $ 59.320 117.210 57.890 4.585 28.2 23.615 Deferred tax liability represents iOx’s estimated tax on the difference between book and tax basis of the IPR&D, which is taxable in the U.K, and the effect of usable net operating loss carryforwards. As of March 31, 2023 and 2022, iOx had a net deferred tax liability of approximately $ 10.6 28.4 19.8 7.0 1.1 17.9 11.3 0.7 3.8

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	NOTE 11. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of accounts payable and accrued liabilities As of March 31, (In thousands) 2023 2022 Accrued bonuses and other payroll-related expenses $ 465 $ 193 Accrued legal fees 357 186 Accounts payable 274 188 Accrued clinical and R&D services 264 – Accrued other professional fees 229 75 Accrued accounting and auditing fees 133 69 Accrued CRO 58 – Accrued rent and administration 51 – Other 34 39 Total accounts payable and accrued liabilities $ 1,865 $ 750

UNSECURED NOTES PAYABLE

UNSECURED NOTES PAYABLE	12 Months Ended
	Mar. 31, 2023
Unsecured Notes Payable
UNSECURED NOTES PAYABLE	NOTE 12. UNSECURED NOTES PAYABLE The following is a roll-forward of current notes payable: Schedule of notes payable (In thousands) iOx Total Balance, April 1, 2021 $ 150 $ 150 Exchange of notes payable and accrued interest for iOx shares (150 ) (150 ) Balance, March 31, 2022 $ – $ – Balance, March 31, 2023 $ – $ – iOx Unsecured Notes Payable On September 8, 2021, the Company, through SalvaRx, completed a settlement of loans (including interest) to and receivables from iOx for services rendered in exchange for 23,772 ordinary shares of iOx at a price of £162. Simultaneously, the Company entered into an agreement with Oxford Sciences Innovation, Plc (“OSI”), the holder of $0.15 million notes plus accrued interest under which OSI exchanged the notes plus accrued interest for 820 shares of iOx. The Company followed the guidance provided by an IFRS Discussion Group Public Meeting dated November 29, 2016, following the general tenets of IAS 39, “Financial Instruments: Recognition and Measurement,” and IFRIC 19, “Extinguishing Financial Liabilities with Equity Instruments,” and recorded the exchange at historical cost. Additionally, no profit or loss was recorded in connection with the exchange. As a result of these transactions, the Company, through SalvaRx, increased its ownership of iOx from 60.49% to 78.32%. See Note 19, “Related Party Transactions,” for a further discussion.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
INCOME TAXES	NOTE 13. INCOME TAXES The Company is a BVI business company. The BVI government does not, under existing legislation, impose any income or corporate tax on corporations. PDS is a U.S. corporation and is subject to U.S. federal, state and local income taxes, as applicable. iOx is subject to U.K. taxes. The (expense) benefit from income taxes consists of the following: Schedule of income taxes benefit Years Ended March 31, (In thousands) 2023 2022 Current: Federal $ (25 ) $ – State and local – – Foreign – 42 Total current (25 ) 42 Deferred: Federal – – State and local – – Foreign 17,881 (4,394 ) Total deferred 17,881 (4,394 ) Benefit (expense) from income taxes $ 17,856 $ (4,352 ) The following is a reconciliation of the U.S. taxes to the effective income tax rates for the years ended March 31, 2023 and 2022 (U.S. Dollars in thousands): Schedule of reconciliation income tax rates Years Ended March 31, 2023 2022 Loss on ordinary activities before tax $ (2,252 ) $ (1,342 ) Statutory U.S. income tax rate 21.0 % 21.0 % Income tax benefit at statutory income tax rate 474 282 Losses (unrecognized) (604 ) (282 ) Utilization of losses not previously benefitted 105 – Income tax (expense) $ (25 ) $ – At March 31, 2023, the Company had $ 0.7 0.2 0.3 The following is a reconciliation of the U.K. taxes to the effective income tax rates for the years ended March 31, 2023 and 2022 (U.S. Dollars in thousands): Schedule of effective income tax rates Years Ended March 31, 2023 2022 Loss on ordinary activities before tax $ 63,248 $ 4,127 Statutory U.K. income tax rate 19.0 % 19.0 % Loss at statutory income tax rate 12,017 784 Change from increase in deferred income tax rate 3,795 (6,998 ) Recognition of deferred tax assets – 722 Foreign currency effect 2,069 1,098 Research and development credit – 42 Income tax benefit (expense) $ 17,881 $ (4,352 ) Research and development credit receivables of $ 0.2 0.2 The following is a reconciliation of financial statement income (loss) to tax basis income (loss) (in thousands): Schedule of reconciliation of financial statement loss to tax basis loss Years Ended March 31, 2023 2022 United BVI United Total United BVI Foreign Total Pre-tax loss $ (2,252 ) $ (57,022 ) $ (63,248 ) $ (122,522 ) $ (1,342 ) $ (9,348 ) $ (4,127 ) $ (14,817 ) Loss for which no benefit was taken 2,875 – 59,320 62,195 – – – – Losses not subject to tax – 57,022 – 57,022 – 9,348 – 9,348 Utilization of losses not previously benefitted (498 ) – – (498 ) – – – – Taxable income (loss) $ 125 $ – $ (3,928 ) $ (3,803 ) $ (1,342 ) $ – $ (4,127 ) $ (5,469 ) As of March 31, 2023 and 2022, the Company’s deferred tax assets and liabilities in the U.K. consisted of the effects of temporary differences attributable to the following (in thousands): Schedule of deferred tax assets and liabilities As of March 31, 2023 2022 Deferred tax assets: Net operating loss $ (4,131 ) $ (3,253 ) Deferred tax asset (unrecognized) 1,500 1,500 Deferred tax asset (2,631 ) (1,753 ) Deferred tax liabilities: In-process research and development 13,195 30,198 Deferred tax liability 13,195 30,198 Net deferred tax liability $ 10,564 $ 28,445 iOx generated research and development cash credits of approximately $ 0.02 As of March 31, 2023 and 2022, iOx had a net deferred tax liability of approximately $ 10.6 28.4 7.0 0.7 1.1 There is no expiration date for accumulated tax losses in the U.K. entities .

WARRANT LIABILITY

WARRANT LIABILITY	12 Months Ended
	Mar. 31, 2023
Warrant Liability
WARRANT LIABILITY	NOTE 14. WARRANT LIABILITY Below is the roll-forward of warrants issued by entity (see Note 12, “Unsecured Notes Payable”): Schedule of warrant liability PBI Exercise Price Warrants Amount In 000’$ Warrants outstanding, April 1, 2021 $ 6.64 49,701 1,120 Exercise of warrants as of March 31, 2022 $ 6.64 (15,813 ) (235 ) Fair value adjustment as of March 31, 2022 (1) – – (852 ) Warrants outstanding, April 1, 2022 $ 6.64 33,888 33 Fair value adjustment as of March 31, 2023 (1) – (33,888 ) (33 ) Warrants outstanding, March 31, 2023 $ – – $ – (1) The Company recognized a gain of $ 0.033 0.852

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Mar. 31, 2023
Capital Stock
CAPITAL STOCK	NOTE 15. CAPITAL STOCK (a) Authorized ordinary shares : (b) The following is a roll-forward of Portage ordinary shares for the years ended March 31, 2023 and 2022: Schedule of common shares unlimited number of common shares Years Ended March 31, 2023 2022 Ordinary Amount Ordinary Amount In 000’ In 000’$ In 000’ In 000’$ Balance, beginning of year 13,349 $ 158,324 12,084 $ 130,649 Shares issued in Tarus acquisition 2,426 17,200 – – Shares issued in iOx exchange 1,070 9,737 – – Excess of non-controlling interest acquired over consideration – iOx – 29,609 – – Shares issued to Lincoln for commitment fee under Committed Purchase Agreement 94 900 – – Shares issued under public offering and ATM, net of issue costs 167 915 1,241 27,216 Purchase of shares issued under Committed Purchase Agreement, net of issue costs 480 1,977 – – Shares issued or accrued for services 20 120 8 120 Warrants exercised – – 16 339 Balance, end of year 17,606 $ 218,782 13,349 $ 158,324 On June 16, 2020, the Company completed a private placement of 698,145 10.00 6.98 215,000 2.15 During September 2020, the Company settled the SalvaRx Notes obligations originally due in June 2021 in an aggregate principal amount of approximately $3.7 million, plus accrued interest of $0.75 million in exchange for cash payments totaling $ 1.77 397,604 6.64 The Company accounted for the contractual value of the exercised and outstanding warrants of $2.64 million (397,604 shares at $6.64 per share) as accrued equity issuable at September 30, 2020. The Company also recorded a loss of $1.26 million during the year ended March 31, 2021, to recognize the discount between the fair value of the underlying shares on October 13, 2020 (the settlement date) of $9.80 per share and the contract price of $6.64 per share. Four of the Company's directors, Gregory Bailey, James Mellon, Steven Mintz (in trust) and Kam Shah (now a former director), received, in total, 363,718 Portage filed a shelf registration statement with the SEC under which it may sell ordinary shares, debt securities, warrants and units in one or more offerings from time to time, which became effective on March 8, 2021 (“Registration Statement”). In connection with the Registration Statement, Portage has filed with the SEC: · a base prospectus, which covers the offering, issuance and sale by Portage of up to $200,000,000 in the aggregate of the securities identified above from time to time in one or more offerings; · a prospectus supplement, which covers the offer, issuance and sale by Portage in an “at-the-market” (“ATM”) offering of up to a maximum aggregate offering price of $ 50,000,000 · a prospectus supplement dated June 24, 2021, for the offer, issuance and sale by Portage of 1,150,000 26.5 · a prospectus supplement dated August 19, 2022, for the resale by Portage of up to $30,000,000 in ordinary shares that Portage may sell from time to time to Lincoln Park Capital Fund, LLC (“Lincoln”) and an additional 94,508 shares that were issued to Lincoln. The Sales Agreement permits the Company to sell in an ATM program up to $50,000,000 of ordinary shares from time to time, the amount of which is included in the $200,000,000 of securities that may be offered, issued and sold by the Company under the base prospectus. The sales under the prospectus will be deemed to be made pursuant to an ATM program as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended. Upon termination of the Sales Agreement, any portion of the $50,000,000 included in the Sales Agreement prospectus that is not sold pursuant to the Sales Agreement will be available for sale in other offerings pursuant to the base prospectus. See Note 23(a), “Events After the Balance Sheet Date – Sale of Ordinary Shares,” for a further discussion. During the quarter ended June 30, 2021, the Company commenced an ATM program, and the Company sold 90,888 2.6 2.5 On June 24, 2021, the Company sold 1,150,000 26.5 1.8 1.6 The Company has issued 2,425,999 See Note 8, “Acquisition of Tarus,” for a further discussion. On July 18, 2022, the Company entered into the iOx Share Exchange Agreement under which it exchanged 1,070,000 21.68 See Note 19, “Related Party Transactions – Share Exchange Agreement – iOx,” for a further discussion. On July 6, 2022, the Company entered into a Purchase Agreement (the “Committed Purchase Agreement”) with Lincoln, under which it may require Lincoln to purchase ordinary shares of the Company having an aggregate value of up to $30 million (the “Purchase Shares”) over a period of 36 months. Upon execution of the Committed Purchase Agreement, the Company issued to Lincoln 94,508 As discussed in Note 2, “Going Concern,” the Company’s access to the ATM program and the Committed Purchase Agreement is generally limited, based on the Company’s trading volume on Nasdaq. In October 2022, the Company began selling shares pursuant to the ATM program and the Sales Agreement. From October 2022 through March 31, 2023, the Company sold 166,145 0.9 480,000 2.0

STOCK OPTION RESERVE

STOCK OPTION RESERVE	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
STOCK OPTION RESERVE	NOTE 16. STOCK OPTION RESERVE (a) The following table provides the activity for the Company’s stock option reserve for the years ended March 31, 2023 and 2022: Schedule of stock option reserve Years Ended March 31, 2023 2022 (In thousands) Non-Controlling Interest Stock Option Reserve Non-Controlling Interest Stock Option Reserve Balance, beginning of year $ 11,659 $ 16,928 $ 11,468 $ 7,977 Share-based compensation expense – 4,276 191 8,951 Settled in iOx exchange (11,659 ) – – – Balance, end of year $ – $ 21,204 $ 11,659 $ 16,928 Stock Options On June 25, 2020, at the annual meeting of shareholders, the Company’s new incentive stock option plan (the “2020 Stock Option Plan”) was approved, which authorized the Company’s directors to fix the option exercise price and to issue stock options under the plan as appropriate. The Company’s 2020 Stock Option Plan was a 10% rolling stock option plan under which the Company’s directors were authorized to grant up to a maximum of 10% of the issued and outstanding ordinary shares on the date of grant. Effective January 13, 2021, the Company amended and restated its 2020 Stock Option Plan to permit the grant of additional types of equity compensation securities, including restricted stock units (“RSUs”) and dividend equivalent rights (the “2021 Equity Incentive Plan”). The aggregate number of equity securities, which may be issued under the 2021 Equity Incentive Plan has not been changed. Pursuant to the 2021 Equity Incentive Plan, on January 13, 2021, the Company granted an aggregate of 868,000 17.75 350,000 518,000 Additionally, the Company granted 243,000 17.75 4.3 Amended and Restated 2021 Equity Incentive Plan and Grants of Stock Options and Restricted Stock Units On January 19, 2022, the Board unanimously approved the Amended and Restated 2021 Equity Incentive Plan (the “Amended and Restated 2021 Equity Incentive Plan”). The Amended and Restated 2021 Equity Incentive Plan provides for: (1) An increase of aggregate number of ordinary shares available for awards to 2,001,812, which is equal to 15% of the issued and outstanding ordinary shares of the Company as of January 19, 2022 subject to discretionary annual increases (on a cumulative basis) as may be approved by the Board in future years by a number of ordinary shares not to exceed an additional 5% of the aggregate number of shares then outstanding; (2) The authorization of incentive stock options under the Amended and Restated 2021 Equity Incentive Plan; and (3) The provision of dividend equivalent rights to be issued when authorized. Pursuant to the Amended and Restated 2021 Equity Incentive Plan, on January 19, 2022, the Company granted an aggregate of 302,000 10.22 13,800 288,200 Additionally, the Company granted 135,740 10.22 grant date and will expire on January 19, 2032. On February 15, 2022, James Mellon, Linda Kozick and Mark Simon were appointed to the Board. Mr. Mellon owned approximately 23.9% of the Company’s outstanding shares at that date. Additionally, Mr. Mellon had previously served as a member of the Board from 2016 to August 14, 2020. On February 15, 2022, in connection with the appointments, each of these directors were granted 13,800 8.59 On June 8, 2022, the Company granted 50,000 11.00 On July 27, 2022, the Company granted 15,900 10.06 On March 30, 2023, the Board unanimously approved to increase the maximum number of ordinary shares reserved for issuance under the Amended and Restated 2021 Equity Incentive Plan. The aggregate number of shares available for awards under the Amended and Restated 2021 Equity Incentive Plan was increased to 2,880,992 879,180 On March 30, 2023, the Company granted an aggregate of 746,120 2.92 March 30, 2033 14,600 87,600 651,020 7,500 grant date. Following are the weighted average assumptions used in connection with the January 13, 2021 option grants, with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Schedule of assumptions Assumption Unvested Options Vested Options Risk free interest rate 0.48 0.48 Expected dividend Nil 0 Nil 0 Expected volatility 144 139 Expected life 6.00 5.5 Fair value of Portage stock US$ 17.11 US$ 16.66 Following are the weighted average assumptions used in connection with the January 19, 2022 option grants, with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Assumption Unvested Options Risk free interest rate 1.11 Expected dividend Nil 0 Expected volatility 116 Expected life 6.25 Fair value of Portage stock US$ 8.76 Following are the weighted average assumptions used in connection with the February 15, 2022 option grants, with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Assumption Unvested Options Risk free interest rate 1.99 Expected dividend Nil 0 Expected volatility 111 Expected life 6.00 Fair value of Portage stock US$ 7.20 The following is the weighted average assumptions used in connection with the June 8, 2022 option grant with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Assumption Unvested Options Risk free interest rate 3.05 Expected dividend Nil 0 Expected volatility 111 Expected life 6.25 Fair value of Portage option US$ 9.36 The following is the weighted average assumptions used in connection with the July 27, 2022 option grant with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Assumption Unvested Options Risk free interest rate 2.83 Expected dividend Nil 0 Expected volatility 112 Expected life 5.75 Fair value of Portage option US$ 8.38 The following is the weighted average assumptions used in connection with the March 30, 2023 option grants with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Unvested Options Assumption (1 Year Grants) (4 Year Grants) Risk free interest rate 3.66 3.64 Expected dividend Nil 0 Nil 0 Expected volatility 113 110 Expected life 5.50 6.25 Fair value of Portage option US$ 2.43 US$ 2.48 (b) The changes in the number of options issued for the years ended March 31, 2023 and 2022 were: Schedule of outstanding stock options Years Ended March 31, 2023 2022 2023 2022 PBI Amended and Restated iOx Option Plan Balance, beginning of year 1,151,400 868,000 1,275 1,924 Granted 812,020 343,400 – – Expired or forfeited – (60,000 ) (1,275 ) (649 ) Balance, end of year 1,963,420 1,151,400 – 1,275 Exercisable, end of year 747,163 405,997 – 1,275 (c) The following is the weighted average exercise price and the remaining contractual life for outstanding options by plan as of March 31, 2023 and 2022: Schedule of weighted average exercise price and remaining contractual life As of March 31, 2023 2022 2023 2022 PBI Amended and Restated iOx Option Plan Weighted average exercise price $ 10.53 15,47 $ – $ 157.60 Weighted average remaining contractual life (in years) 8.86 9.10 – 0.05 The vested options can be exercised at any time in accordance with the applicable option agreement. The exercise price was greater than the market price for all options outstanding as of March 31, 2023 and March 31, 2022, except 7,500 738,620 The Company recorded approximately $ 4.3 8.9 8.0 4.1 The Company recorded approximately $ 0.2 0.9 0.1

(LOSS) PER SHARE

(LOSS) PER SHARE	12 Months Ended
	Mar. 31, 2023
Profit or loss [abstract]
(LOSS) PER SHARE	NOTE 17. (LOSS) PER SHARE Basic earnings per share (“EPS”) is calculated by dividing the net income (loss) attributable to ordinary equity holders of the Company by the weighted average number of ordinary shares outstanding during the period. Diluted EPS is calculated by dividing the net income (loss) attributable to ordinary equity holders of the Company by the weighted average number of ordinary shares outstanding during the period plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares. The following table reflects the loss and share data used in the basic and diluted EPS calculations (U.S. Dollars in thousands, except per share amounts): Schedule of basic and diluted EPS calculations Years Ended March 31, 2023 2022 2021 Numerator (in 000’$) Net loss attributable to owners of the Company $ (104,611 ) $ (16,870 ) $ (15,833 ) Denominator (in 000’) Weighted average number of shares – Basic and Diluted 16,119 13,060 11,733 Basic and diluted (loss) per share $ (6.49 ) $ (1.29 ) $ (1.35 ) The inclusion of the Company’s stock options, RSUs and share purchase warrants in the computation of diluted loss per share would have an anti-dilutive effect on loss per share and are therefore excluded from the computation. Consequently, there is no difference between basic loss per share and diluted loss per share for the years ended March 31, 2023, 2022 and 2021. The following table reflects the Company's outstanding securities by year that would have an anti-dilutive effect on loss per share and, accordingly, were excluded from the calculation. Schedule of anti-dilutive share As of March 31, 2023 2022 2021 Stock options 1,963,420 1,151,400 868,000 Restricted stock units 378,740 378,740 243,000 Warrants – 33,888 49,701

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 18. COMMITMENTS AND CONTINGENT LIABILITIES Effective March 15, 2022, iOx entered into a Master Services Agreement (the “MSA”) with Parexel International (IRE) Limited (“Parexel”) under which Parexel agrees to provide services as CRO provided in a work order (“Work Order”) effective June 1, 2022. Pursuant to such Work Order, Parexel will operate a Phase 2 trial of IMM60 and pembrolizumab in advanced melanoma and non-small lung cancer (“NSCLC”). The MSA provides for a five-year term, and the Work Order provides for a term to be ended upon the completion of the services required. The budget provides for service fees and pass-through expenses and clinical sites totaling $11.5 million. During Fiscal 2023, the Company executed two change orders resulting in a $0.6 million increase in the overall estimated budgeted costs. On March 1, 2023, the Company, through Tarus, entered into a clinical service agreement with a third-party service provider. The term of the agreement is through the earlier of August 14, 2025 or the completion of provision of services and the payment of contractual obligations. The budgeted costs for the services to be provided is approximately $ 12.1 Stimunity Convertible Note On July 13, 2022, the Company entered into a commitment with Stimunity to provide € 600,000 7 20 5 363.00 Committed Purchase Agreement On July 6, 2022 (the “Signing Date”), the Company entered into the Committed Purchase Agreement with Lincoln, pursuant to which the Company may require Lincoln to purchase ordinary shares having an aggregate value of up to $ 30 Upon execution of the Committed Purchase Agreement, the Company issued to Lincoln 94,508 0.9 The Committed Purchase Agreement does not impose any financial or business covenants on the Company and there are no limitations on the use of proceeds received by the Company from Lincoln. The Company may raise capital from other sources in its sole discretion; provided, however, that the Company shall not enter into any similar agreement for the issuance of variable priced equity-like securities until the three-year anniversary of the Signing Date, excluding, however, an at-the-market transaction with a registered broker-dealer. In connection with the Committed Purchase Agreement, the Company and Lincoln entered into a Registration Rights Agreement, dated July 6, 2022 (the “Registration Rights Agreement”). Pursuant to the Registration Rights Agreement, the Company agreed to file with the SEC the prospectus supplement to the Company’s shelf registration statement pursuant to Rule 424(b) for the purpose of registering for resale the ordinary shares to be issued to Lincoln under the Committed Purchase Agreement. The prospectus supplement was filed on August 19, 2022. The Company is obligated under the Tarus Merger Agreement and the iOx Share Exchange Agreement to pay certain third party earnouts based on the achievement of certain milestones. See Note 8, “Acquisition of Tarus,” and Note 19 , “Related Party Transactions – Share Exchange Agreement – iOx,”

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Mar. 31, 2023
Related Party Transactions
RELATED PARTY TRANSACTIONS	NOTE 19. RELATED PARTY TRANSACTIONS SalvaRx Acquisition Two of the Company’s directors are also directors of SalvaRx Group plc, a company which owns approximately 4.1 Investments The Company has entered into related party transactions and certain services agreements with its investees. Key management personnel of the Company have also entered into related party transactions with investees. Key management personnel are those persons having the authority and responsibility for planning, directing and controlling the activities of the Company, including directors and senior management of the Company. The following subsidiaries and associates are considered related parties: (a) Stimunity (b) iOx (c) Saugatuck (d) Intensity 69,759 83,437 77,088 63,624 (e) Portage Development Services Inc (f) PGL. PPL held 65% equity in PGL, committed to provide financing and also handles financial and administrative matters of PGL. The Company disposed of 100% of its interests in PPL and PGL on March 3, 2021. The following are related party balances and transactions other than those disclosed elsewhere in the consolidated financial statements: Interest expense includes $ 78,427 692,045 805,000 2,415,000 6.64 Transactions between the parent company and its subsidiaries, which are related parties, have been eliminated in consolidation and are not disclosed in this note. On September 8, 2021, the Company, through SalvaRx, completed a settlement of loans (including interest) to and receivables from iOx for services rendered in exchange for 23,772 ordinary shares of iOx at a price of £162. Simultaneously, the Company entered into an agreement with OSI, the holder of $0.15 million notes plus accrued interest under which OSI exchanged the notes plus accrued interest for 820 shares of iOx. The Company followed the guidance provided by an IFRS Discussion Group Public Meeting dated November 29, 2016, following the general tenets of IAS 39, “Financial Instruments: Recognition and Measurement,” and IFRIC 19, “Extinguishing Financial Liabilities with Equity Instruments,” and recorded the exchange at historical cost. Additionally, no profit or loss was recorded in connection with the exchange. As a result of these transactions, the Company, through SalvaRx, increased its ownership of iOx from 60.49% to 78.32%. Share Exchange Agreement – iOx On July 18, 2022, the Company and SalvaRx entered into a Share Exchange Agreement (the “Share Exchange Agreement”) with each of the minority shareholders of iOx (the “Sellers”) resulting in the acquisition of the outstanding non-controlling ownership interest (approximately 22%) of iOx, which is developing the iNKT engager platform. The Company followed IFRS 3, “Business Combinations,” and IAS 27, “Separate Financial Statements,” (which substantially replaced IAS 3) to account for this transaction. The Company achieved control of iOx, as defined, on January 8, 2019 upon the completion of the SalvaRx Acquisition. Further transactions whereby the parent entity acquires further equity interests from non-controlling interests, or disposes of equity interests but without losing control, are accounted for as equity transactions (i.e., transactions with owners in their capacity as owners). As such: · the carrying amounts of the controlling and non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary; · any difference between the amount by which the non-controlling interests is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent; and · there is no consequential adjustment to the carrying amount of goodwill, and no gain or loss is recognized in profit or loss. The Company now owns the worldwide rights to its small molecule iNKT engagers, including lead programs PORT-2 and PORT-3. Under the terms of the Share Exchange Agreement, each Seller sold to the Company, and the Company acquired from each Seller, legal and beneficial ownership of the number of iOx shares held by each Seller, free and clear of any share encumbrances, in exchange for the issuance in an aggregate of 1,070,000 As additional consideration for the sale of the iOx shares to the Company under the Share Exchange Agreement, the Sellers shall have the contingent right to receive additional shares (“Earnout Shares”) from the Company having an aggregate value equal to $25 million calculated at the Per Share Earnout Price, as defined in the Share Exchange Agreement, upon the achievement of certain milestones defined as the dosing of the first patient in a Phase 3 clinical trial for either PORT-2 (IMM60 iNKT cell activator/engager) or PORT-3 (PLGA-nanoparticle formulation of IMM60 combined with a NY-ESO-1 peptide vaccine). The Company shall have the option, in its sole and absolute discretion, to settle the Earnout Shares in cash. The Company followed IFRS 3 and IAS 32, “Financial Instruments: Presentation,” to account for the fair value of the Earnout Shares. The principal assumptions for determining the fair value include the timing of development events, the probabilities of success and the discount rate used. The fundamental principle of IAS 32 is that a financial instrument should be classified as either a financial liability or an equity instrument according to the substance of the contract, not its legal form, and the definitions of financial liability and equity instrument. A financial instrument is an equity instrument if, and only if, both conditions (a) and (b) below are met: (a) the instrument includes no contractual obligation to deliver cash or another financial asset to another entity, and (b) if the instrument will or may be settled in the Company’s own equity instruments, it is either: (i) a non-derivative that includes no contractual obligation for the Company to deliver a variable number of its own equity instruments; or (ii) a derivative that will be settled only by the issuer exchanging a fixed amount of cash or another financial asset for a fixed number of its own equity instruments. When a derivative financial instrument gives one party a choice over how it is settled (for instance, the Company or the holder can choose settlement net in cash or by exchanging shares for cash), it is a financial asset or a financial liability unless all of the settlement alternatives would result in it being an equity instrument. The financial instrument includes the exclusive right of the Company to settle the obligation with cash or equity and, accordingly, accounted for the fair value of the Earnout Shares as a non-current liability. The Company recorded $5.478 million as the fair value estimate of the Earnout Shares, which is reflected as deferred obligation - iOx milestone on the condensed consolidated balance sheet included herein. The Company will determine the fair value of the Earnout Shares at each balance sheet date. Any change to the fair value will be recorded in the Company’s statements of operations and other comprehensive income (loss). The Company recorded a gain from the change (decrease) in fair value of the liability of $1.352 million for the year ended March 31, 2023. Employment Agreements PDS entered into a Services Agreement with our CEO effective December 15, 2021 (the “CEO Services Agreement”). The CEO Services Agreement originally provided for a base salary of $ 618,000 Under the CEO Services Agreement, the CEO may terminate his employment with PDS at any time for Good Reason (as defined in the CEO Services Agreement). PDS may terminate the CEO’s employment immediately upon his death, upon a period of disability or without Just Cause (as defined in the CEO Services Agreement). In the event that the CEO’s employment is terminated due to his death or Disability (as defined in the CEO Services Agreement), for Good Reason or without Just Cause, he will be entitled to accrued obligations (accrued unpaid portion of base salary, accrued unused vacation time and any unpaid expenses). Additionally, he may be entitled to Severance Benefits (as defined in the CEO Services Agreement), which include his then current base salary and the average of his annual bonus for the prior two completed performance years, paid over 12 monthly installments. Additionally, the CEO will be entitled to life insurance benefits and medical and dental benefits for a period of 12 months at the same rate the CEO and PDS shared such costs during his period of employment. Additionally, all stock options (and any other unvested equity incentive award) held by the CEO relating to shares of the Company will be deemed fully vested and exercisable on the Termination Date (as defined in the CEO Services Agreement), and the exercise period for such stock options will be increased by a period of two years from the Termination Date. If the CEO’s employment by PDS is terminated by PDS or any successor entity without Just Cause (not including termination by virtue of the CEO’s death or Disability) or by the CEO for Good Reason within 12 months following the effective date of a Change in Control (as defined in the CEO Services Agreement), then, in addition to paying or providing the CEO with the Accrued Obligations (as defined in the CEO Services Agreement), the Company will provide the following Change in Control Severance Benefits (as defined in the CEO Services Agreement): (1) PDS will pay the base salary continuation benefit for 18 months; (2) PDS will pay the life insurance benefit for 18 months; (3) PDS will pay an additional amount equivalent to the CEO’s target annual bonus calculated using the bonus percentage for the performance year in which the CEO’s termination occurs. This bonus will be paid in 12 equal installments commencing on the first payroll date that is more than 60 days following the date of termination of the CEO’s employment, with the remaining installments occurring on the first day of the month for the 11 months thereafter; (4) PDS will provide the CEO with continued medical and dental benefits, as described above, for 18 months; and (5) All stock options (and any other unvested equity incentive award) held by the CEO relating to shares of the Company or its parent will be deemed fully vested and exercisable on the Termination Date, as defined, and the exercise period for such stock options will be increased by a period of two years from the Termination Date. PDS entered into services agreements (individually, an “Executive Service Agreement,” and collectively, the “Executive Service Agreements”) with each of the Company’s five other members of senior management (individually, “Executive” and collectively, “Executives”), three of which are dated as of December 1, 2021, one of which is dated December 15, 2021 and one of which is dated June 1, 2022. Each of the Executive Services Agreements provides for an initial term of two years that is automatically renewed for one-year periods (except two of the Executive Services Agreement, which provides for an initial term of one year and that is automatically renewed for one-year periods). The Executive Services Agreements initially provided for annual base salaries ranging from $175,000 to $ 348,000 On December 19, 2022, the Compensation Committee approved executive compensation for Fiscal 2024 for annual base salaries ranging from $183,750 to $ 469,000 The Executive Services Agreements can be terminated by PDS without Just Cause, by death or Disability, or by the Executive (except one) for Good Reason (each as defined in the respective Executive Services Agreements). In such instances, the Executive Services Agreements provide for the payment of accrued obligations (accrued unpaid portion of base salary, accrued unused vacation time and any unpaid expenses). Additionally, the Executives (except two) are entitled to 50% of base salary plus 50% of average annual bonus earned over the prior two performance years, as well as prevailing life insurance benefits for a period of six months and medical and dental benefits for a period of six months at the prevailing rate PDS and the Executive were sharing such expenses. Additionally, all stock options (and any other unvested equity incentive award) held by the Executives relating to shares of the Company will be deemed fully vested and exercisable on the Termination Date (as defined in the respective Executive Services Agreements), and the exercise period for such stock options will be increased by a period of two years from the Termination Date. If an Executive’s employment by PDS is terminated by the Company or any successor entity without Just Cause (not including termination by virtue of the Executive’s death or Disability) or by the Executive (except one) for Good Reason within 12 months following the effective date of a Change in Control (as defined in the respective Executive Services Agreements), then, in addition to paying or providing the Executive with the Accrued Obligations (as defined in the respective Executive Services Agreements), the Company will provide the following Change in Control Severance Benefits (as defined in the respective Executive Services Agreements), except in two cases in which the Executive is entitled to Item (5) and 50% of Items (1) and (3) below: (1) PDS will pay the Base Salary continuation benefit for 12 months; (2) PDS will pay the life insurance benefit for 12 months; (3) The Company will pay an additional amount equivalent to the Executive’s target annual bonus calculated using the bonus percentage for the performance year in which the Executive’s termination occurs. This bonus will be payable in 12 equal installments commencing on the first payroll date that is more than 60 days following the date of termination of the Executive’s employment, with the remaining installments occurring on the first day of the month for the 11 months thereafter; (4) PDS will provide the Executive with continued medical and dental benefits, as described above, for 12 months; and (5) All stock options (and any other unvested equity incentive award) held by the Executive relating to shares of the Company or its parent will be deemed fully vested and exercisable on the Termination Date and the exercise period for such stock options will be increased by a period of two years from the Termination Date. The Executive Services Agreements also include customary confidentiality, as well as provisions relating to assignment of inventions. The Executive Services Agreements also includes non-competition and non-solicitation of employees and customers provision that run during the Executive’s employment with PDS and for a period of one year after termination of employment. Bonuses & Board Compensation Arrangements In December 2021, the Compensation Committee approved performance bonuses payable to senior management totaling $0.7 million. The bonuses were paid in December 2021. In December 2022, the Board approved executive performance bonuses, as recommended by the Compensation Committee, totaling $ 0.6 73.5 Effective January 1, 2022, each non-employee Board member are entitled to receive cash Board fees of $40,000 per annum, payable quarterly in arrears. Additionally, each non-employee Board member is entitled to an annual grant of 6,900 options to purchase Portage ordinary shares, which would vest the first annual anniversary of the grant date. The Company incurred Board fees totaling $322,500 and $55,833 during the years ended March 31, 2023 and 2022, respectively. There were no Board fees incurred prior to January 1, 2022. Non-employee Board chairpersons are entitled to an annual cash fee of $30,000, payable quarterly in arrears. In lieu of a non-executive chairperson, the lead director is entitled to an annual cash fee of $20,000 per annum paid quarterly in arrears. Additionally, the chairperson of each of the Audit Committee, Compensation Committee and Nominating Committee is entitled to annual fees of $15,000, $12,000 and $8,000, respectively, payable quarterly in arrears. Members of those committees will be entitled to annual fees of $7,500, $6,000 and $4,000, respectively, payable quarterly in arrears.

FINANCIAL INSTRUMENTS AND RISK

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	NOTE 20. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT The Company’s financial instruments recognized in the Company’s consolidated statements of financial position consist of the following: Fair value estimates are made at a specific point in time, based on relevant market information and information about financial instruments. These estimates are subject to and involve uncertainties and matters of significant judgment; and therefore, these estimates cannot be determined with precision. Changes in assumptions could significantly affect these estimates. The following table summarizes the Company’s financial instruments as of March 31, 2023 and March 31, 2022: Schedule of financial instruments Years Ended March 31, 2023 2022 Amortized Cost FVTOCI FVTPL Amortized Cost FVTOCI FVTPL Financial assets Cash and cash equivalents $ 10,545 $ – $ – $ 23,352 $ – $ – Prepaid expenses and other receivables $ 2,689 $ – $ – $ 1,480 $ – $ – Convertible note receivable, including accrued interest, net of impairment $ – $ – $ 442 $ – $ – $ – Investment in associate $ – $ – $ 806 $ – $ – $ 1,673 Investment in private company $ – $ 2,087 $ – $ – $ 7,409 $ – Years Ended March 31, 2023 2022 Amortized Cost FVTPL Amortized Cost FVTPL Financial liabilities Accounts payable and accrued liabilities $ 1,865 $ – $ 750 $ – Warrant liability $ – $ – $ – $ 33 Deferred purchase price payable - Tarus $ – $ 7,179 $ – $ – Deferred obligation - iOx milestone $ – $ 4,126 $ – $ – A summary of the Company’s risk exposures as it relates to financial instruments are reflected below. Fair value of Financial Instruments The Company’s financial assets and liabilities are comprised of cash and cash equivalents, receivables and investments in equities and private entities, accounts payable, warrant liability and unsecured notes payable. The Company classifies the fair value of these transactions according to the following fair value hierarchy based on the amount of observable inputs used to value the instrument: · Level 1 – Values are based on unadjusted quoted prices available in active markets for identical assets or liabilities as of the reporting date. · Level 2 – Values are based on inputs, including quoted forward prices for commodities, time value and volatility factors, which can be substantially observed or corroborated in the marketplace. Prices in Level 2 are either directly or indirectly observable as of the reporting date. · Level 3 – Values are based on prices or valuation techniques that are not based on observable market data. Investments are classified as Level 3 financial instrument. Assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement within the fair value hierarchy. Management has assessed that the fair values of cash and cash equivalents, other receivables and accounts payable approximate their carrying amounts largely due to the short-term maturities of these instruments. The following methods and assumptions were used to estimate their fair values: Investment in Associate: 0.607 0.806 Convertible Note Receivable: 0.614 0.039 0.653 0.211 0.442 Investment in Intensity Accrued Equity Issuable: Warrant Liability Deferred Purchase Price Payable - Tarus: 1.359 Deferred Obligation - iOx Milestone: 1.352 There have been no transfers between levels of the fair value hierarchy for the years ended March 31, 2023 and 2022. The Company’s financial instruments are exposed to certain financial risks: Credit Risk, Liquidity Risk and Foreign Currency Risk. Credit Risk Credit risk is the risk of loss associated with a counterparty’s inability to fulfil its payment obligations. The credit risk is attributable to various financial instruments, as noted below. The credit risk is limited to the carrying value as reflected in the Company’s condensed consolidated interim statements of financial position. Cash and cash equivalents As of March 31, 2023 and 2022, cash equivalents was comprised of a money market account with maturities less than 90 days from the date of purchase. Liquidity Risk Liquidity risk is the risk that the Company will encounter difficulty in satisfying financial obligations as they become due. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions without incurring unacceptable losses or risking harm to the Company’s reputation. The Company holds sufficient cash and cash equivalents to satisfy current obligations under accounts payable and accruals. The Company monitors its liquidity position regularly to assess whether it has the funds necessary to meet its operating needs and needs for investing in new projects. As a biotech company at an early stage of development and without significant internally generated cash flows, there are inherent liquidity risks, including the possibility that additional financing may not be available to the Company, or that actual drug development expenditures may exceed those planned. The current uncertainty in global markets could have an impact on the Company’s future ability to access capital on terms that are acceptable to the Company. There can be no assurance that required financing will be available to the Company. See Note 2, “Going Concern,” and Note 15, “Capital Stock,” for a discussion of the Company’s share offering and Note 18, “Commitments and Contingent Liabilities – Committed Purchase Agreement,” for a further discussion. Foreign Currency Risk While the Company operates in various jurisdictions, substantially all of the Company’s transactions are denominated in the U.S. Dollar, except the deferred tax liability in the U.K. settleable in British pound sterling and the Stimunity Convertible Note receivable settleable in euros.

CAPITAL DISCLOSURES

CAPITAL DISCLOSURES	12 Months Ended
	Mar. 31, 2023
Capital Disclosures
CAPITAL DISCLOSURES	NOTE 21. CAPITAL DISCLOSURES The Company considers the items included in shareholders’ equity as capital. The Company had accounts payable and accrued expenses of approximately $ 1.9 0.8 13.7 24.8 The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. As of March 31, 2023, shareholders’ equity attributable to the owners of the company was approximately $ 76.0 121.2 The Company is not subject to any externally imposed capital requirements and does not presently utilize any quantitative measures to monitor its capital. There have been no changes to the Company’s approach to capital management during the years ended March 31, 2023 and 2022.

NON-CONTROLLING INTEREST

NON-CONTROLLING INTEREST	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
NON-CONTROLLING INTEREST	NOTE 22. NON-CONTROLLING INTEREST Schedule of non-controlling interest (In thousands) iOx Saugatuck Total Non-controlling interest as of April 1, 2021 $ 46,173 $ (20 ) $ 46,153 Share-based compensation expense 191 – 191 Exchange of notes payable, accrued interest and warrants for iOx shares 184 – 184 Net (loss) attributable to non-controlling interest (1,847 ) (452 ) (2,299 ) Non-controlling interest as of March 31, 2022 44,701 (472 ) 44,229 Net income (loss) attributable to non-controlling interest 123 (178 ) (55 ) Purchase of non-controlling interest pursuant to Share Exchange Agreement (44,824 ) – (44,824 ) Non-controlling interest as of March 31, 2023 $ – $ (650 ) $ (650 ) On September 8, 2021, the Company, through SalvaRx, completed a settlement of loans (including interest) to and receivables from iOx for services rendered in exchange for 23,772 ordinary shares of iOx at a price of £162. On July 18, 2022, the Company completed the acquisition of the remaining non-controlling interest in iOx, by issuing 1,070,000 shares of its ordinary shares and assuming certain milestone obligations. See Note 12, “Unsecured Notes Payable – iOx Unsecured Notes Payable,” and Note 19, “Related Party Transactions – Share Exchange Agreement – iOx, Saugatuck and subsidiary includes Saugatuck and its wholly-owned subsidiary, Saugatuck Rx LLC.

EVENTS AFTER THE BALANCE SHEET

EVENTS AFTER THE BALANCE SHEET DATE	12 Months Ended
	Mar. 31, 2023
Events After Balance Sheet Date
EVENTS AFTER THE BALANCE SHEET DATE	NOTE 23. EVENTS AFTER THE BALANCE SHEET DATE (a) Sale of Ordinary Shares From April 1, 2023 through July 28, 2023, the Company sold 186,604 0.6 (b) Intensity IPO On July 5, 2023, Intensity completed an IPO of its common stock selling 3,900,000 5.00 16.2 5.96 644,229 2.087 2,659 585,000 4.7

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2023
Significant Accounting Policies
Financial Instruments	Financial Instruments i) Financial Assets Classification Upon the initial recognition of financial assets, the financial assets are classified as one of the following measurement methodologies: (a) amortized cost, (b) fair value through other comprehensive income (“FVTOCI)”, or (c) fair value through profit or loss (“FVTPL”). Subsequent measurement will be based on the initial classification of the financial assets. The classification of a financial asset at initial recognition depends on the Company's business model for managing the financial asset and the financial asset's contractual cash flow characteristics. In order for a financial asset to be measured at amortized cost or fair value through other comprehensive income (“OCI”), it needs to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Company's business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Measurement For purposes of subsequent measurement, financial assets are classified in three categories: · Financial assets at amortized cost (debt instruments); · Financial assets at FVTOCI (equity instruments); and · Financial assets at FVTPL. Financial Assets at Amortized Cost (Debt Instruments) The Company measures financial assets at amortized cost if both of the following conditions are met: · The financial asset is held within a business model with the objective of holding the financial asset in order to collect contractual cash flows; and · The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest rate method and are subject to a period impairment review. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. The Company's financial assets classified at amortized cost includes other receivables. Financial Assets designated at Fair Value through OCI (Equity Instruments) Upon initial recognition, the Company can elect to classify irrevocably its equity investments as equity instruments designated at FVTOCI when they meet the definition of equity under IAS 32, “Financial Instruments: Presentation,” and are not held for trading. The classification is determined on an instrument-by-instrument basis. Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the statement of profit or loss when the right of payment has been established, except when the Company benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment. The Company irrevocably elected to classify its investments in Biohaven Pharmaceuticals Holding Company Ltd. (“Biohaven”) and Intensity as FVTOCI. Financial Assets at Fair Value through Profit or Loss Financial assets at FVTPL include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured FVTPL, irrespective of the business model. Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of profit or loss. The investment in associate (Stimunity) and the Stimunity Convertible Note receivable are accounted for as FVTPL. ii Financial Liabilities The Company's financial liabilities include accounts payable which approximate fair value due to their short maturity and unsecured notes payable assumed in the SalvaRx Acquisition. The unsecured notes payable assumed in the SalvaRx Acquisition are recorded at fair value on the acquisition date. Warrant Liability and Note Payable The warrants expired and the note payable was settled as part of the Portage Pharmaceuticals Ltd. (“PPL”) disposition in March 2021. At subsequent balance sheet dates the fair value of the warrants was remeasured with movements in the fair value recorded in profit or loss. The loan was recorded at amortized cost and is accounted for using the effective interest method. In March 2021, the Company completed the disposition of its interest in PPL and EyGen Limited (“EyGen”) and these liabilities were settled. In connection with the SalvaRx Acquisition, the Company acquired notes payable and associated warrants, which were recorded at fair value on the date of the acquisition. 33,888
Impairment of Financial Assets	Impairment of Financial Assets IFRS 9, “Financial Instruments,” requires the Company to recognize an allowance for expected credit losses ("ECLs") for all debt instruments and investments not held at fair value through profit or loss and contract assets. For intangible assets, at the end of each reporting period and whenever there is an indication that the intangible asset may be impaired, the Company reviews the carrying amounts of its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. At the end of each reporting period, the Company assesses whether there was objective evidence that a financial asset was impaired. The Company recognizes an allowance for ECLs for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).
Foreign Currencies	Foreign Currencies The functional and presentation currency of the Company and its subsidiaries (see Note 3, “Basis of Presentation”) is the U.S. dollar. Monetary assets and liabilities are translated at exchange rates in effect at the balance sheet date. Non-monetary assets are translated at exchange rates in effect when they were acquired. Revenue and expenses are translated at the approximate average rate of exchange for the period. Foreign currency differences arising on retranslation are recognized in income or loss. The effect of exchange rates on our foreign currency-denominated asset and liability balances are recorded as foreign currency transaction losses in the determination of net income (loss).
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents comprise cash on hand and amounts invested in underlying Treasury and money market funds that are readily convertible to a known amount of cash with three months or less from date of acquisition and are subject to an insignificant risk of change in value. As of March 31, 2023 and 2022, cash equivalents was comprised of a money market account with maturities less than 90 days from the date of purchase.
Intangible Assets acquired in Business Combinations	Intangible Assets acquired in Business Combinations Intangible assets acquired in business combinations that are separable from goodwill are recorded at their acquisition date fair value. Subsequent to initial recognition, intangible assets acquired in business combinations are reported net of accumulated amortization and any impairment losses.
Impairment of Indefinite Life Intangible Assets other than Goodwill	Impairment of Indefinite Life Intangible Assets other than Goodwill At the end of each annual reporting period and whenever there is an indication that an indefinite life intangible asset may be impaired, the Company reviews the carrying amounts of such intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of impairment loss (if any). When it is not possible to estimate the recoverable amount of any individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units ("CGU" or "CGUs"), or the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified. Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Share-based Payments	Share-based Payments The Company determines the fair value of share-based payments granted to directors, officers, employees and consultants using the Black-Scholes option-pricing model at the grant date. Assumptions for the Black-Scholes model are determined as follows: · Expected Volatility. · Expected Term. · Risk-free Interest Rate. · Expected Dividend Yield. Share-based payments to employees, officers and directors are recorded and reflected as an expense over the vesting period with a corresponding increase in the stock option reserve. On exercise, the associated amounts previously recorded in the stock option reserve are transferred to common share capital.
(Loss) Per Share	(Loss) Per Share Basic (loss) per share is calculated by dividing net (loss) income (the numerator) by the weighted average number of ordinary shares outstanding (the denominator) during the period. Diluted (loss) per share reflects the dilution that would occur if outstanding stock options and share purchase warrants were exercised into ordinary shares using the treasury stock method and convertible debt instruments were converted into ordinary shares using the if-converted method. Diluted (loss) per share is calculated by dividing net (loss) income applicable to ordinary shares by the sum of the weighted average number of ordinary shares outstanding and all additional ordinary shares that would have been outstanding if potentially dilutive common shares had been issued. The share and per share information has been retroactively adjusted to reflect the impact of the stock dividend. The inclusion of the Company's stock options, restricted stock units and share purchase warrants in the computation of diluted loss per share would have an anti-dilutive effect on loss per share and are therefore excluded from the computation. Consequently, there is no difference between basic loss per share and diluted loss per share for the years ended March 31, 2023, 2022 and 2021. The following table reflects the outstanding securities by year that would have an anti-dilutive effect on loss per share, and accordingly, were excluded from the calculation (see Note 17, “(Loss) Per Share”). Schedule of anti-dilutive effect on loss per share As of March 31, 2023 2022 2021 Stock options 1,963,420 1,151,400 868,000 Restricted stock units 378,740 378,740 243,000 Warrants – 33,888 49,701
Investment in Private Company	Investment in Private Company The investment is comprised of shares of private companies that have been acquired through a private placement. The investment is initially recorded at fair value. Following acquisition, the Company evaluates whether control or significant influence is exerted by the Company over the affairs of the investee company. Based on the evaluation, the Company accounts for the investment using either the consolidation, equity accounting or fair value method (see Note 7, “Investment in Private Company”).
Investment in Associate	Investment in Associate An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The results and assets and liabilities of associates are incorporated in these consolidated financial statements using the equity method of accounting, except when the investment, or a portion thereof, is classified as held for sale, in which case it is accounted for in accordance with IFRS 5, “Non-current Assets Held for Sale and Discontinued Operations”. Under the equity method, an investment in an associate is initially recognized in the consolidated statement of financial position at cost from the date the investee becomes an associate and adjusted thereafter to recognize the Company's share of the profit or loss and other comprehensive income of the associate. When the Company's share of losses of an associate exceed the Company's interest in that associate (which includes any long-term interests that, in substance, form part of the Company's net investment in the associate), the Company discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. After application of the equity method, the Company determines whether it is necessary to recognize an impairment loss on its investment in its associate. At each reporting date, the Company determines whether there is objective evidence that the investment in the associate is impaired. If there is such evidence, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognizes the loss within 'share of (loss) income in associate' in the consolidated statements of operations.
Research and Development Expenses	Research and Development Expenses (i) Research and Development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is expensed as incurred. Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditures are capitalized only if development costs can be measured reliably, the product or process is technically, and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization. Amortization of the asset begins when development is complete and the asset is available for use. It is amortized over the period of expected future benefit. During the period of development, the asset is tested for impairment annually. Research and development expenses include all direct and indirect operating expenses supporting the products in development. (ii) Subsequent Expenditure Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures are recognized in income or loss as incurred. (iii) Clinical Trial Expenses Clinical trial expenses are a component of the Company's research and development costs. These expenses include fees paid to contract research organizations, clinical sites, and other organizations who conduct development activities on the Company's behalf. The amount of clinical trial expenses recognized in a period related to clinical agreements is based on estimates of the work performed using an accrual basis of accounting. These estimates incorporate factors such as patient enrolment, services provided, contractual terms, and prior experience with similar contracts.
Contingent Liability	Contingent Liability A contingent liability is a possible obligation that arises from past events and of which the existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not within the control of the Corporation; or a present obligation that arises from past events (and therefore exists), but is not recognized because it is not probable that a transfer or use of assets, provision of services or any other transfer of economic benefits will be required to settle the obligation; or the amount of the obligation cannot be estimated reliably.
Determination of Fair Value	Determination of Fair Value A number of the Company's accounting policies and disclosures required the determination of fair value, both for financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. When applicable, further information about the assumptions made in determining fair values is disclosed in Note 20, “Financial Instruments and Risk Management” and other footnotes that specifically relate to assets or liabilities measured at fair value.
Income Tax	Income Tax The Company uses the asset and liability method to account for income taxes. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities for accounting purposes, and their respective tax bases. Deferred income tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted and applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in statutory tax rates is recognized in profit or loss in the year of change. Deferred income tax assets are recorded when their recoverability is considered probable and are reviewed at the end of each reporting period.
Business Combinations	Business Combinations Business combinations are accounted for using the acquisition method as of the date when control transfers to the Company. The total purchase price less the fair value of non-controlling interest is allocated to the acquired net tangible and intangible assets and liabilities assumed at fair value. Transaction costs that the Company incurs in connection with a business combination are expensed as incurred.
Goodwill	Goodwill Goodwill represents the excess of the purchase price paid for the acquisition of an entity and the amount recognized for non-controlling interests over the fair value of the net identifiable assets acquired and liabilities assumed. Goodwill is allocated to the CGUs, which are expected to benefit from the synergies of the combination. Goodwill is not subject to amortization and is tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Impairment is determined for goodwill by assessing if the carrying value of a CGU, including the allocated goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs to sell and the value in use. Impairment losses recognized in respect of a CGU are first allocated to the carrying value of goodwill and any excess is allocated to the carrying amount of assets in the CGU. Any goodwill impairment is recorded in income in the period in which the impairment is identified. Impairment losses on goodwill are not subsequently reversed.
Recent Accounting Pronouncements	Recent Accounting Pronouncements IFRS Pronouncements Issued Impact of Adoption of Significant New IFRS Standards in Fiscal 2023 (a) Annual Improvements to IFRS Standards 2018-2020 The annual improvements process addresses issues in the 2018-2020 reporting cycles including changes to IFRS 9, “Financial Instruments,” IFRS 1, “First Time Adoption of IFRS,” IFRS 16, “Leases,” and IAS 41, “Biological Assets”. i) The amendment to IFRS 9 addresses which fees should be included in the 10% test for derecognition of financial liabilities. ii) The amendment to IFRS 1 allows a subsidiary adopting IFRS at a later date than its parent to also measure cumulative translation differences using the amounts reported by the parent based on the parent’s date of transition to IFRS. iii) The amendment to IFRS 16’s illustrative example 13 removes the illustration of payments from the lessor related to leasehold improvements. These amendments were effective for annual periods beginning on or after January 1, 2022. The adoption of these amendments did not have a material effect on the Company’s annual consolidated financial statements. (b) IAS 37: Onerous Contracts – Cost of Fulfilling a Contract The amendment to IAS 37 clarifies the meaning of costs to fulfil a contract and that before a separate provision for an onerous contract is established, an entity recognizes any impairment loss that has occurred on assets used in fulfilling the contract, rather than on assets dedicated to the contract. This amendment is effective for annual periods beginning January 1, 2022. The Company’s adoption of IAS 37 did not have a material effect on its consolidated financial statements. (c) IAS 16: Proceeds Before Intended Use The amendment to IAS 16 prohibits an entity from deducting from the cost of an item of Property, plant and equipment any proceeds received from selling items produced while the entity is preparing the assets for its intended use (for example, the proceeds from selling samples produced when testing a machine to see if it is functioning properly). It also clarifies that an entity is testing whether the asset is functioning properly when it assesses the technical and physical performance of the asset. The amendment also requires certain related disclosures. This amendment is effective for annual periods beginning January 1, 2022. The Company’s adoption of IAS 16 did not have a material effect on its consolidated financial statements. New Accounting Standards, Interpretations and Amendments Standards issued but not yet effective up to the date of issuance of the Company’s consolidated financial statements are listed below. This listing is of standards and interpretations issued, which the Company reasonably expects to be applicable at a future date. The Company intends to adopt those standards when they become effective. (a) IAS 1: Presentation of Financial Statements The amendment to IAS 1 clarifies how to classify debt and other liabilities as either current or non-current. The amendment will be effective for annual periods beginning on or after January 1, 2024. The Company is currently evaluating the new guidance and impacts on its consolidated financial statements. (b) Amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and Its Associate or Joint Venture The amendment addresses the conflict between IFRS 10, “Consolidated Financial Statements,” and IAS 28, “Investments in Associates and Joint Ventures,” in dealing with the loss of control of a subsidiary that is sold or contributed to an associate or joint venture. The amendments clarify that the gain or loss resulting from the sale or contribution of assets that constitute a business, as defined in IFRS 3, “Business Combinations,” between an investor and its associate or joint venture, is recognized in full. Any gain or loss resulting from the sale or contribution of assets that do not constitute a business, however, is recognized only to the extent of unrelated investors' interests in the associate or joint venture. The IASB has deferred the effective date of these amendments indefinitely, but an entity that early adopts the amendments must apply them prospectively. The Company is evaluating whether the adoption of the above amendment will have a material impact on its financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2023
Significant Accounting Policies
Schedule of anti-dilutive effect on loss per share	Schedule of anti-dilutive effect on loss per share As of March 31, 2023 2022 2021 Stock options 1,963,420 1,151,400 868,000 Restricted stock units 378,740 378,740 243,000 Warrants – 33,888 49,701

PREPAID EXPENSES AND OTHER RE_2

PREPAID EXPENSES AND OTHER RECEIVABLES (Tables)	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
Schedule of prepaid expenses and other receivables	Schedule of prepaid expenses and other receivables As of March 31, (In thousands) 2023 2022 Prepaid clinical research costs $ 1,653 $ – Prepaid insurance 621 1,084 Research & development tax credits 169 169 Tax deposits 119 142 Other receivables 71 40 Other prepaid expenses 56 45 Total prepaid expenses and other receivables $ 2,689 $ 1,480

INVESTMENT IN ASSOCIATE (Tables

INVESTMENT IN ASSOCIATE (Tables)	12 Months Ended
	Mar. 31, 2023
Investment In Associate
Schedule of investment associate	Schedule of investment associate Name Principal Activity Place of Incorporation and Principal Place of Business Voting Rights Held as of March 31, 2023 Voting Rights Held as of March 31, 2022 Associate: Stimunity S.A. Biotechnology Paris, France 44.0 % 44.0 %
Schedule of investment in Stimunity S.A.	Schedule of investment in Stimunity S.A. As of and for the Years Ended March 31, (In thousands) 2023 2022 Balance, beginning of year $ 1,673 $ 1,735 Share of loss (260 ) (62 ) Impairment loss (607 ) – Balance, end of year $ 806 $ 1,673
Schedule of details of the Company's associate	Schedule of details of the Company's associate As of March 31, (In millions) 2023 2022 (Unaudited) (Unaudited) Current assets $ 0.9 $ 1.1 Non-current assets $ – $ – Current liabilities $ 0.8 $ – Non-current liabilities $ 0.1 $ 0.8 Equity $ – $ 0.3 Company's share in equity – 44.0% and 44.0% $ – $ 0.1 Years Ended March 31, 2023 2022 (Unaudited) (Unaudited) Revenue $ 0.1 $ 0.2 Loss from operations $ (0.8 ) $ (0.8 ) Net loss $ (0.6 ) $ (0.4 )

INVESTMENT IN PRIVATE COMPANY (

INVESTMENT IN PRIVATE COMPANY (Tables)	12 Months Ended
	Mar. 31, 2023
Investment In Private Company
INVESTMENTS IN PRIVATE COMPANIES	(In thousands) Intensity Balance as of April 1, 2021 $ 7,409 Unrealized (loss) gain on investment – Balance as of March 31, 2022 7,409 Unrealized loss on investment (5,322 ) Balance as of March 31, 2023 $ 2,087

ACQUISITION OF TARUS (Tables)

ACQUISITION OF TARUS (Tables)	12 Months Ended
	Mar. 31, 2023
Acquisition Of Tarus
Schedule of fair value of assets acquired and liabilities assumed	Schedule of fair value of assets acquired and liabilities assumed Assets: (In thousands) Identifiable intangible assets $ 28,200 Goodwill 538 Total assets $ 28,738 Consideration: Fair value of shares issued $ 17,200 Liabilities assumed 3,000 Deferred purchase consideration at fair value 8,538 Total liabilities $ 28,738
Schedule of pro forma information	Schedule of pro forma information Years Ended March 31, (In thousands) 2023 2022 2021 Loss from operations $ (16,277 ) $ (17,931 ) $ (14,873 ) Loss before provision for income taxes $ (122,239 ) $ (17,164 ) $ (17,325 ) Net loss $ (104,383 ) $ (21,516 ) $ (19,622 ) Total comprehensive loss for year $ (109,666 ) $ (21,516 ) $ (19,622 ) Loss per share $ (5.63 ) $ (1.24 ) $ ($1.29 )

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
Schedule of IPR&D projects	Schedule of IPR&D projects As of March 31, (In thousands) 2023 2022 Balance, beginning of year $ 43,324 $ 43,324 Tarus goodwill 538 – Loss on impairment (43,862 ) – Balance, end of year $ – $ 43,324

IN-PROCESS RESEARCH AND DEVEL_2

IN-PROCESS RESEARCH AND DEVELOPMENT AND DEFERRED TAX LIABILITY (Tables)	12 Months Ended
	Mar. 31, 2023
In-process Research And Development And Deferred Tax Liability
Schedule of In process research and development	Schedule of In process research and development Value as of March 31, Project # Description 2023 2022 iOx: PORT 2 (IMM60) Melanoma & Lung Cancers $ 36,181 $ 84,213 PORT 3 (IMM65) Ovarian/Prostate Cancers 21,709 32,997 57,890 117,210 Oncomer/Saugatuck DNA Aptamers 178 178 Tarus: PORT 6 & PORT 7 Adenosine Receptors 22,723 – PORT 8 Adenosine Receptors 420 – PORT 9 Adenosine Receptors 472 – 23,615 – In-process research and development $ 81,683 $ 117,388 Deferred tax liability $ 13,195 $ 30,198

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
Schedule of accounts payable and accrued liabilities	Schedule of accounts payable and accrued liabilities As of March 31, (In thousands) 2023 2022 Accrued bonuses and other payroll-related expenses $ 465 $ 193 Accrued legal fees 357 186 Accounts payable 274 188 Accrued clinical and R&D services 264 – Accrued other professional fees 229 75 Accrued accounting and auditing fees 133 69 Accrued CRO 58 – Accrued rent and administration 51 – Other 34 39 Total accounts payable and accrued liabilities $ 1,865 $ 750

UNSECURED NOTES PAYABLE (Tables

UNSECURED NOTES PAYABLE (Tables)	12 Months Ended
	Mar. 31, 2023
Unsecured Notes Payable
Schedule of notes payable	Schedule of notes payable (In thousands) iOx Total Balance, April 1, 2021 $ 150 $ 150 Exchange of notes payable and accrued interest for iOx shares (150 ) (150 ) Balance, March 31, 2022 $ – $ – Balance, March 31, 2023 $ – $ –

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
Schedule of income taxes benefit	Schedule of income taxes benefit Years Ended March 31, (In thousands) 2023 2022 Current: Federal $ (25 ) $ – State and local – – Foreign – 42 Total current (25 ) 42 Deferred: Federal – – State and local – – Foreign 17,881 (4,394 ) Total deferred 17,881 (4,394 ) Benefit (expense) from income taxes $ 17,856 $ (4,352 )
Schedule of reconciliation income tax rates	Schedule of reconciliation income tax rates Years Ended March 31, 2023 2022 Loss on ordinary activities before tax $ (2,252 ) $ (1,342 ) Statutory U.S. income tax rate 21.0 % 21.0 % Income tax benefit at statutory income tax rate 474 282 Losses (unrecognized) (604 ) (282 ) Utilization of losses not previously benefitted 105 – Income tax (expense) $ (25 ) $ –
Schedule of effective income tax rates	Schedule of effective income tax rates Years Ended March 31, 2023 2022 Loss on ordinary activities before tax $ 63,248 $ 4,127 Statutory U.K. income tax rate 19.0 % 19.0 % Loss at statutory income tax rate 12,017 784 Change from increase in deferred income tax rate 3,795 (6,998 ) Recognition of deferred tax assets – 722 Foreign currency effect 2,069 1,098 Research and development credit – 42 Income tax benefit (expense) $ 17,881 $ (4,352 )
Schedule of reconciliation of financial statement loss to tax basis loss	Schedule of reconciliation of financial statement loss to tax basis loss Years Ended March 31, 2023 2022 United BVI United Total United BVI Foreign Total Pre-tax loss $ (2,252 ) $ (57,022 ) $ (63,248 ) $ (122,522 ) $ (1,342 ) $ (9,348 ) $ (4,127 ) $ (14,817 ) Loss for which no benefit was taken 2,875 – 59,320 62,195 – – – – Losses not subject to tax – 57,022 – 57,022 – 9,348 – 9,348 Utilization of losses not previously benefitted (498 ) – – (498 ) – – – – Taxable income (loss) $ 125 $ – $ (3,928 ) $ (3,803 ) $ (1,342 ) $ – $ (4,127 ) $ (5,469 )
Schedule of deferred tax assets and liabilities	Schedule of deferred tax assets and liabilities As of March 31, 2023 2022 Deferred tax assets: Net operating loss $ (4,131 ) $ (3,253 ) Deferred tax asset (unrecognized) 1,500 1,500 Deferred tax asset (2,631 ) (1,753 ) Deferred tax liabilities: In-process research and development 13,195 30,198 Deferred tax liability 13,195 30,198 Net deferred tax liability $ 10,564 $ 28,445

WARRANT LIABILITY (Tables)

WARRANT LIABILITY (Tables)	12 Months Ended
	Mar. 31, 2023
Warrant Liability
Schedule of warrant liability	Schedule of warrant liability PBI Exercise Price Warrants Amount In 000’$ Warrants outstanding, April 1, 2021 $ 6.64 49,701 1,120 Exercise of warrants as of March 31, 2022 $ 6.64 (15,813 ) (235 ) Fair value adjustment as of March 31, 2022 (1) – – (852 ) Warrants outstanding, April 1, 2022 $ 6.64 33,888 33 Fair value adjustment as of March 31, 2023 (1) – (33,888 ) (33 ) Warrants outstanding, March 31, 2023 $ – – $ –

CAPITAL STOCK (Tables)

CAPITAL STOCK (Tables)	12 Months Ended
	Mar. 31, 2023
Capital Stock
Schedule of common shares unlimited number of common shares	Schedule of common shares unlimited number of common shares Years Ended March 31, 2023 2022 Ordinary Amount Ordinary Amount In 000’ In 000’$ In 000’ In 000’$ Balance, beginning of year 13,349 $ 158,324 12,084 $ 130,649 Shares issued in Tarus acquisition 2,426 17,200 – – Shares issued in iOx exchange 1,070 9,737 – – Excess of non-controlling interest acquired over consideration – iOx – 29,609 – – Shares issued to Lincoln for commitment fee under Committed Purchase Agreement 94 900 – – Shares issued under public offering and ATM, net of issue costs 167 915 1,241 27,216 Purchase of shares issued under Committed Purchase Agreement, net of issue costs 480 1,977 – – Shares issued or accrued for services 20 120 8 120 Warrants exercised – – 16 339 Balance, end of year 17,606 $ 218,782 13,349 $ 158,324

STOCK OPTION RESERVE (Tables)

STOCK OPTION RESERVE (Tables)	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
Schedule of stock option reserve	Schedule of stock option reserve Years Ended March 31, 2023 2022 (In thousands) Non-Controlling Interest Stock Option Reserve Non-Controlling Interest Stock Option Reserve Balance, beginning of year $ 11,659 $ 16,928 $ 11,468 $ 7,977 Share-based compensation expense – 4,276 191 8,951 Settled in iOx exchange (11,659 ) – – – Balance, end of year $ – $ 21,204 $ 11,659 $ 16,928
Schedule of assumptions	Schedule of assumptions Assumption Unvested Options Vested Options Risk free interest rate 0.48 0.48 Expected dividend Nil 0 Nil 0 Expected volatility 144 139 Expected life 6.00 5.5 Fair value of Portage stock US$ 17.11 US$ 16.66 Following are the weighted average assumptions used in connection with the January 19, 2022 option grants, with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Assumption Unvested Options Risk free interest rate 1.11 Expected dividend Nil 0 Expected volatility 116 Expected life 6.25 Fair value of Portage stock US$ 8.76 Following are the weighted average assumptions used in connection with the February 15, 2022 option grants, with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Assumption Unvested Options Risk free interest rate 1.99 Expected dividend Nil 0 Expected volatility 111 Expected life 6.00 Fair value of Portage stock US$ 7.20 The following is the weighted average assumptions used in connection with the June 8, 2022 option grant with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Assumption Unvested Options Risk free interest rate 3.05 Expected dividend Nil 0 Expected volatility 111 Expected life 6.25 Fair value of Portage option US$ 9.36 The following is the weighted average assumptions used in connection with the July 27, 2022 option grant with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Assumption Unvested Options Risk free interest rate 2.83 Expected dividend Nil 0 Expected volatility 112 Expected life 5.75 Fair value of Portage option US$ 8.38 The following is the weighted average assumptions used in connection with the March 30, 2023 option grants with respect to the Company’s Amended and Restated 2021 Equity Incentive Plan: Unvested Options Assumption (1 Year Grants) (4 Year Grants) Risk free interest rate 3.66 3.64 Expected dividend Nil 0 Nil 0 Expected volatility 113 110 Expected life 5.50 6.25 Fair value of Portage option US$ 2.43 US$ 2.48
Schedule of outstanding stock options	Schedule of outstanding stock options Years Ended March 31, 2023 2022 2023 2022 PBI Amended and Restated iOx Option Plan Balance, beginning of year 1,151,400 868,000 1,275 1,924 Granted 812,020 343,400 – – Expired or forfeited – (60,000 ) (1,275 ) (649 ) Balance, end of year 1,963,420 1,151,400 – 1,275 Exercisable, end of year 747,163 405,997 – 1,275
Schedule of weighted average exercise price and remaining contractual life	Schedule of weighted average exercise price and remaining contractual life As of March 31, 2023 2022 2023 2022 PBI Amended and Restated iOx Option Plan Weighted average exercise price $ 10.53 15,47 $ – $ 157.60 Weighted average remaining contractual life (in years) 8.86 9.10 – 0.05

(LOSS) PER SHARE (Tables)

(LOSS) PER SHARE (Tables)	12 Months Ended
	Mar. 31, 2023
Profit or loss [abstract]
Schedule of basic and diluted EPS calculations	Schedule of basic and diluted EPS calculations Years Ended March 31, 2023 2022 2021 Numerator (in 000’$) Net loss attributable to owners of the Company $ (104,611 ) $ (16,870 ) $ (15,833 ) Denominator (in 000’) Weighted average number of shares – Basic and Diluted 16,119 13,060 11,733 Basic and diluted (loss) per share $ (6.49 ) $ (1.29 ) $ (1.35 )
Schedule of anti-dilutive share	Schedule of anti-dilutive share As of March 31, 2023 2022 2021 Stock options 1,963,420 1,151,400 868,000 Restricted stock units 378,740 378,740 243,000 Warrants – 33,888 49,701

FINANCIAL INSTRUMENTS AND RIS_2

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Tables)	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
Schedule of financial instruments	Schedule of financial instruments Years Ended March 31, 2023 2022 Amortized Cost FVTOCI FVTPL Amortized Cost FVTOCI FVTPL Financial assets Cash and cash equivalents $ 10,545 $ – $ – $ 23,352 $ – $ – Prepaid expenses and other receivables $ 2,689 $ – $ – $ 1,480 $ – $ – Convertible note receivable, including accrued interest, net of impairment $ – $ – $ 442 $ – $ – $ – Investment in associate $ – $ – $ 806 $ – $ – $ 1,673 Investment in private company $ – $ 2,087 $ – $ – $ 7,409 $ – Years Ended March 31, 2023 2022 Amortized Cost FVTPL Amortized Cost FVTPL Financial liabilities Accounts payable and accrued liabilities $ 1,865 $ – $ 750 $ – Warrant liability $ – $ – $ – $ 33 Deferred purchase price payable - Tarus $ – $ 7,179 $ – $ – Deferred obligation - iOx milestone $ – $ 4,126 $ – $ –

NON-CONTROLLING INTEREST (Table

NON-CONTROLLING INTEREST (Tables)	12 Months Ended
	Mar. 31, 2023
Notes and other explanatory information [abstract]
Schedule of non-controlling interest	Schedule of non-controlling interest (In thousands) iOx Saugatuck Total Non-controlling interest as of April 1, 2021 $ 46,173 $ (20 ) $ 46,153 Share-based compensation expense 191 – 191 Exchange of notes payable, accrued interest and warrants for iOx shares 184 – 184 Net (loss) attributable to non-controlling interest (1,847 ) (452 ) (2,299 ) Non-controlling interest as of March 31, 2022 44,701 (472 ) 44,229 Net income (loss) attributable to non-controlling interest 123 (178 ) (55 ) Purchase of non-controlling interest pursuant to Share Exchange Agreement (44,824 ) – (44,824 ) Non-controlling interest as of March 31, 2023 $ – $ (650 ) $ (650 )

NATURE OF OPERATIONS (Details N

NATURE OF OPERATIONS (Details Narrative) - shares	1 Months Ended
	Sep. 30, 2021	Aug. 13, 2018
IfrsStatementLineItems [Line Items]
Percentage of outstanding shares	60.49%
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Percentage of ownership subsidiary	60.49%
Top of range [member]
IfrsStatementLineItems [Line Items]
Percentage of ownership subsidiary	78.32%
Salva Rx Group Plc [Member]
IfrsStatementLineItems [Line Items]
Percentage of acquire		100%
Exchange of ordinary shares		8,050,701

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2023
Notes and other explanatory information [abstract]
Cash and cash equivalents	$ 10,500
Total current liabilities	1,900
Net (loss) income	104,700
Cash used in operating activities	$ 12,100
Cash on hand		$ 7,700

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative)	1 Months Ended	12 Months Ended
	Sep. 30, 2021	Mar. 31, 2023
IfrsStatementLineItems [Line Items]
Percentage of outstanding shares	60.49%
Subsidiaries Two [Member]
IfrsStatementLineItems [Line Items]
Non-controlling interest		30%
British Virgin Islands [Member]
IfrsStatementLineItems [Line Items]
Percentage of ownership subsidiary		70%
Delaware [Member]
IfrsStatementLineItems [Line Items]
Percentage of ownership subsidiary		100%
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Percentage of ownership subsidiary	60.49%
Top of range [member]
IfrsStatementLineItems [Line Items]
Percentage of ownership subsidiary	78.32%

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Stock Options [Member]
IfrsStatementLineItems [Line Items]
Anti-dilutive effect on loss per share	1,963,420	1,151,400	868,000
Restricted Stock Units [Member]
IfrsStatementLineItems [Line Items]
Anti-dilutive effect on loss per share	378,740	378,740	243,000
Warrants [member]
IfrsStatementLineItems [Line Items]
Anti-dilutive effect on loss per share		33,888	49,701

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	1 Months Ended
	Oct. 30, 2022 shares
Significant Accounting Policies
Warrants expired	33,888

PREPAID EXPENSES AND OTHER RE_3

PREPAID EXPENSES AND OTHER RECEIVABLES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Notes and other explanatory information [abstract]
Prepaid clinical research costs	$ 1,653
Prepaid insurance	621	1,084
Research & development tax credits	169	169
Tax deposits	119	142
Other receivables	71	40
Other prepaid expenses	56	45
Total prepaid expenses and other receivables	$ 2,689	$ 1,480

INVESTMENT IN ASSOCIATE (Detail

INVESTMENT IN ASSOCIATE (Details) - Stimunity S A [Member]	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
IfrsStatementLineItems [Line Items]
Name	Associate: Stimunity S.A.
Principal Activity	Biotechnology
Place of Incorporation and principal place of business	Paris, France
Voting rights held	44%	44%

INVESTMENT IN ASSOCIATE (Deta_2

INVESTMENT IN ASSOCIATE (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investment In Associate
Balance	$ 1,673	$ 1,735
Share of loss	(260)	(62)
Impairment loss	(607)
Balance	$ 806	$ 1,673

INVESTMENT IN ASSOCIATE (Deta_3

INVESTMENT IN ASSOCIATE (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
IfrsStatementLineItems [Line Items]
Current assets	$ 13,676	$ 24,832
Non-current assets	85,453	169,830
Current liabilities	1,865	783
Non-current liabilities	21,869	28,445
Equity	75,395	165,434	$ 147,602	$ 145,641
Company's share in equity – 44.0% and 44.0%	76,045	121,205
Loss from operations	(16,575)	(15,588)	(12,440)
Net loss	(104,666)	(19,169)	$ (17,189)
Stimunity S A [Member]
IfrsStatementLineItems [Line Items]
Current assets	900	1,100
Non-current assets
Current liabilities	800
Non-current liabilities	100	800
Equity		300
Company's share in equity – 44.0% and 44.0%		100
Revenue	100	200
Loss from operations	(800)	(800)
Net loss	$ (600)	$ (400)

INVESTMENT IN ASSOCIATE (Deta_4

INVESTMENT IN ASSOCIATE (Details Narrative) € in Thousands, $ in Thousands					12 Months Ended
	Jul. 13, 2023	Sep. 12, 2022 USD ($)	Jun. 01, 2020 USD ($) shares	Jun. 01, 2020 EUR (€) shares	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
IfrsStatementLineItems [Line Items]
Convertible Note description	On July 13, 2022, the Company entered into a commitment with Stimunity to provide €600,000 under a convertible note (the “Stimunity Convertible Note”) with a maturity date of September 1, 2023 (the “Maturity Date”). The Stimunity Convertible Note provides for simple interest at 7% per annum. The Stimunity Convertible Note is automatically converted into Series A shares of Stimunity upon Stimunity completing a Series A round for at least €20 million. If such subscription round is completed prior to the Maturity Date, the Company will be entitled to convert the Stimunity Convertible Note into Series A shares of Stimunity at the subscription share price less 15%. Additionally, if Stimunity completes a financing with a new category of shares (other than Common Shares or Series A shares) for at least €5 million (the “Minimum Raise”), the Company will have the right to convert the Stimunity Convertible Note and the historical Series A shares of Stimunity owned into the new category of shares. In the event that Stimunity does not close a financing prior to the Maturity Date or raises less than the Minimum Raise, the Company will have the right to convert the Stimunity Convertible Note into Series A shares at €363.00 per share or the raise price less 15%, whichever is lower. The Stimunity Convertible Note was funded on September 12, 2022. See Note 18, “Commitments and Contingent Liabilities – Stimunity Convertible Note,” for a further discussion.
Translated value		$ 614
Unrealized gain					$ 39
Increasing the carrying value					653
Impairment analysis					607
Stimunity convertible note receivable					211
Decreasing the carrying value					806
Stimunity convertible note					442
Stimunity S A [Member]
IfrsStatementLineItems [Line Items]
Additionall investment			$ 1,000	€ 900
Subscribing class A shares | shares			2,479	2,479
Proportion of ownership interest in associate			44%	44%
Equity in (loss) income					$ 260	$ 62	$ 490

INVESTMENTS IN PRIVATE COMPANIE

INVESTMENTS IN PRIVATE COMPANIES (Details) - Intensity [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
IfrsStatementLineItems [Line Items]
Beginning, balance	$ 7,409	$ 7,409
Unrealized gain (loss) on investment	(5,322)
Ending, balance	$ 2,087	$ 7,409

INVESTMENT IN PRIVATE COMPANY_2

INVESTMENT IN PRIVATE COMPANY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Jul. 07, 2023	Dec. 31, 2022	Nov. 30, 2022	Oct. 31, 2022	Jul. 11, 2019
IfrsStatementLineItems [Line Items]
Per share price						$ 5	$ 4
Impairment asset fair value					$ 3,363
Impairment assets carring value	$ 4,046
Holding shares	644,299
Offering price						$ 5	$ 4
Fair value interest	$ 2,087
Additional recognized amount	1,276
O C I [Member]
IfrsStatementLineItems [Line Items]
Impairment loss	5,322
Intensity [Member]
IfrsStatementLineItems [Line Items]
Percentage of voting equity interests acquired				4.70%
Intensity [Member] | Acquisition Of Salva Rx [Member]
IfrsStatementLineItems [Line Items]
Investment	$ 4,500
Number of shares purchased	1,000,000
Percentage of equity held	7.50%
Unrealized Gain (Loss) On Investment		$ 0	$ 0
Intensity [Member] | Acquisition Of Intensity Holding Limited [Member]
IfrsStatementLineItems [Line Items]
Equity interests of acquirer								$ 1,300
Number of ordinary shares issued in acquisition								129,806
Number of private company share consists in sole asset								288,458
Number of shares outstanding								1,288,458
Percentage of voting equity interests acquired	7%	7.35%		4.70%

ACQUISITION OF TARUS (Details)

ACQUISITION OF TARUS (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Assets:
Goodwill		$ 43,324
Tarus Acquisition [Member]
Assets:
Identifiable intangible assets	28,200
Goodwill	538
Total assets	28,738
Consideration:
Fair value of shares issued	17,200
Liabilities assumed	3,000
Deferred purchase consideration at fair value	8,538
Total liabilities	$ 28,738

ACQUISITION OF TARUS (Details 1

ACQUISITION OF TARUS (Details 1) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
IfrsStatementLineItems [Line Items]
Loss before provision for income taxes	$ (122,522)	$ (14,817)	$ (14,892)
Net loss	(104,666)	(19,169)	(17,189)
Total comprehensive loss for year	(109,949)	(19,169)	(17,189)
Tarus Acquisition [Member]
IfrsStatementLineItems [Line Items]
Loss from operations	(16,277)	(17,931)	(14,873)
Loss before provision for income taxes	(122,239)	(17,164)	(17,325)
Net loss	(104,383)	(21,516)	(19,622)
Total comprehensive loss for year	$ (109,666)	$ (21,516)	$ (19,622)
Loss per share	$ (5.63)	$ (1.24)	$ (1.29)

ACQUISITION OF TARUS (Details N

ACQUISITION OF TARUS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Jul. 02, 2022
IfrsStatementLineItems [Line Items]
Number of share issued	2,425,999
Ordinary shares value	$ 18,000
Short term debt	2,000
Milestone payment	17,000
Ordinary shares issued Value		$ 17,200
Deferred purchase price payable	8,538
Tarus Acquisition [Member]
IfrsStatementLineItems [Line Items]
Milestone payment	$ 15,000

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
IfrsStatementLineItems [Line Items]
Balance, beginning of period	$ 43,324
Balance, Ending of period		$ 43,324
Acquisition Of Salva Rx [Member]
IfrsStatementLineItems [Line Items]
Balance, beginning of period	43,324	43,324
Tarus goodwill	538
Loss on impairment	(43,862)
Balance, Ending of period		$ 43,324

GOODWILL (Details Narrative)

GOODWILL (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
IfrsStatementLineItems [Line Items]
Goodwill			$ 43,324
Discount rate applied to cash flow projections		24.50%	31.50%
Aggregate impairment loss		$ 64,723
Impairment loss on financial assets		43,862
Acquisition Of Salva Rx [Member]
IfrsStatementLineItems [Line Items]
Goodwill	$ 538		$ 43,324	$ 43,324
Consideration paid	28,738
Fair value of identifiable assets acquired	$ 28,200

IN-PROCESS RESEARCH AND DEVEL_3

IN-PROCESS RESEARCH AND DEVELOPMENT AND DEFERRED TAX LIABILITY (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
IfrsStatementLineItems [Line Items]
In-process research and development	$ 81,683	$ 117,388
Deferred tax liability	13,195	30,198
I M M 60 I O X Melanoma Lung Cancers [Member]
IfrsStatementLineItems [Line Items]
In-process research and development	36,181	84,213
I M M 65 I O X Ovarian Prostate Cancers [Member]
IfrsStatementLineItems [Line Items]
In-process research and development	21,709	32,997
I O X [Member]
IfrsStatementLineItems [Line Items]
In-process research and development	57,890	117,210
Oncomer Saugatuck D N A Aptamers [Member]
IfrsStatementLineItems [Line Items]
In-process research and development	178	178
Tarus Adenosine Receptors [Member]
IfrsStatementLineItems [Line Items]
In-process research and development	22,723
Tarus Adenosine Receptors 1 [Member]
IfrsStatementLineItems [Line Items]
In-process research and development	420
Tarus Adenosine Receptors 2 [Member]
IfrsStatementLineItems [Line Items]
In-process research and development	472
Tarus [Member]
IfrsStatementLineItems [Line Items]
In-process research and development	$ 23,615

IN-PROCESS RESEARCH AND DEVEL_4

IN-PROCESS RESEARCH AND DEVELOPMENT AND DEFERRED TAX LIABILITY (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jan. 08, 2019
IfrsStatementLineItems [Line Items]
Recognized an impairment	$ 59,320
Impairment	4,585
Deferred tax liability	10,600	$ 28,400	$ 19,800
Increase in deferred income taxes	7,000
Increase decrease in deferred tax liability	1,100	1,100
Reduction in deferred tax liability	17,900
Deferred tax effect of loss		11,300
Reflect the change related value		$ 3,800
Iox I P R And D [Member]
IfrsStatementLineItems [Line Items]
Recognized an impairment	700
Iox I P R And D [Member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Carrying value	117,210
Iox I P R And D [Member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Carrying value	57,890
Trus I P R And D [Member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Carrying value	28,200
Trus I P R And D [Member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Carrying value	$ 23,615

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Notes and other explanatory information [abstract]
Accrued bonuses and other payroll-related expenses	$ 465	$ 193
Accrued legal fees	357	186
Accounts payable	274	188
Accrued clinical and R&D services	264
Accrued other professional fees	229	75
Accrued accounting and auditing fees	133	69
Accrued CRO	58
Accrued rent and administration	51
Other	34	39
Total accounts payable and accrued liabilities	$ 1,865	$ 750

UNSECURED NOTES PAYABLE (Detail

UNSECURED NOTES PAYABLE (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
IfrsStatementLineItems [Line Items]
Balance	$ 150
Exchange of notes payable and accrued interest for iOx shares	(150)
Balance
I O X [Member]
IfrsStatementLineItems [Line Items]
Balance	150
Exchange of notes payable and accrued interest for iOx shares	(150)
Balance

UNSECURED NOTES PAYABLE (Deta_2

UNSECURED NOTES PAYABLE (Details Narrative)	Sep. 08, 2021
I O X [Member]
IfrsStatementLineItems [Line Items]
Issuance of unsecured notes, description	Company, through SalvaRx, completed a settlement of loans (including interest) to and receivables from iOx for services rendered in exchange for 23,772 ordinary shares of iOx at a price of £162. Simultaneously, the Company entered into an agreement with Oxford Sciences Innovation, Plc (“OSI”), the holder of $0.15 million notes plus accrued interest under which OSI exchanged the notes plus accrued interest for 820 shares of iOx. The Company followed the guidance provided by an IFRS Discussion Group Public Meeting dated November 29, 2016, following the general tenets of IAS 39, “Financial Instruments: Recognition and Measurement,” and IFRIC 19, “Extinguishing Financial Liabilities with Equity Instruments,” and recorded the exchange at historical cost. Additionally, no profit or loss was recorded in connection with the exchange. As a result of these transactions, the Company, through SalvaRx, increased its ownership of iOx from 60.49% to 78.32%. See Note 19, “Related Party Transactions,” for a further discussion.

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Current:
Federal	$ (25)
State and local
Foreign		42
Total current	(25)	42
Deferred:
Federal
State and local
Foreign	17,881	(4,394)
Total deferred	17,881	(4,394)
Benefit (expense) from income taxes	$ 17,856	$ (4,352)

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Notes and other explanatory information [abstract]
Loss on ordinary activities before tax	$ (2,252)	$ (1,342)
Statutory U.S. income tax rate	21%	21%
Income tax benefit at statutory income tax rate	$ 474	$ 282
Losses (unrecognized)	(604)	(282)
Utilization of losses not previously benefitted	105
Income tax (expense)	$ (25)

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Notes and other explanatory information [abstract]
Loss on ordinary activities before tax	$ 63,248	$ 4,127
Statutory U.K. income tax rate	19%	19%
Loss at statutory income tax rate	$ 12,017	$ 784
Change from increase in deferred income tax rate	3,795	(6,998)
Recognition of deferred tax assets		722
Foreign currency effect	2,069	1,098
Research and development credit		42
Income tax benefit (expense)	$ 17,881	$ (4,352)

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Entity Information [Line Items]
Pre-tax loss	$ (122,522)	$ (14,817)
Loss for which no benefit was taken	62,195
Losses not subject to tax	57,022	9,348
Utilization of losses not previously benefitted	(498)
Taxable income (loss)	(3,803)	(5,469)
United State [Member]
Entity Information [Line Items]
Pre-tax loss	(2,252)	(1,342)
Loss for which no benefit was taken	2,875
Losses not subject to tax
Utilization of losses not previously benefitted	(498)
Taxable income (loss)	125	(1,342)
B V I [Member]
Entity Information [Line Items]
Pre-tax loss	(57,022)	(9,348)
Loss for which no benefit was taken
Losses not subject to tax	57,022	9,348
Utilization of losses not previously benefitted
Taxable income (loss)
United Kingdom [Member]
Entity Information [Line Items]
Pre-tax loss	(63,248)	(4,127)
Loss for which no benefit was taken	59,320
Losses not subject to tax
Utilization of losses not previously benefitted
Taxable income (loss)	$ (3,928)	$ (4,127)

INCOME TAXES (Details 4)

INCOME TAXES (Details 4) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Deferred tax assets:
Net operating loss	$ (4,131)	$ (3,253)
Deferred tax asset (unrecognized)	1,500	1,500
Deferred tax asset	(2,631)	(1,753)
Deferred tax liabilities:
In-process research and development	13,195	30,198
Deferred tax liability	13,195	30,198
Net deferred tax liability	$ 10,564	$ 28,445

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
IfrsStatementLineItems [Line Items]
Federal net operating losses	$ 700
Deferred tax assets	200	$ 300
Research and development credit receivables	200	200
Deferred tax liabilities	10,564	28,445
Deferred income taxes		7,000
Current year losses	700
Increase (Decrease) in deferred tax liability	1,100	1,100
I O X [Member]
IfrsStatementLineItems [Line Items]
Research and development cash credits	20
Deferred tax liabilities	$ 10,600	$ 28,400

WARRANT LIABILITY (Details)

WARRANT LIABILITY (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Warrant Liability
Warrants outstanding exercise price at beginning	$ 6.64	$ 6.64
Warrants outstanding, shares at beginning	33,888	49,701
Warrants outstanding, amount at beginning	$ 33	$ 1,120
Exercise of warrants, exercise price		$ 6.64
Exercise of warrants, shares		(15,813)
Exercise of warrants, amount		$ (235)
Fair value adjustment , exercise price
Fair value adjustment, shares	(33,888)
Fair value adjustment, amount	$ (33)	$ (852)
Warrants outstanding, exercise price, at end		$ 6.64
Warrants outstanding, shares at end		33,888
Warrants outstanding, amount, at end		$ 33
Gain (loss) of change in fair value of warrants	$ 33	$ 852

CAPITAL STOCK (Details)

CAPITAL STOCK (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Capital Stock
Balance, Shares	13,349	12,084
Balance	$ 158,324	$ 130,649
Shares issued in Tarus acquisition, shares	2,426
Shares issued in Tarus acquisition	$ 17,200
Shares issued in iOx exchange, shares	1,070
Shares issued in iOx exchange	$ 9,737
Excess of non-controlling interest acquired over consideration iOx, shares
Excess of non-controlling interest acquired over consideration iOx	$ 29,609
Shares issued to Lincoln for commitment fee under Committed Purchase Agreement, shares	94
Shares issued to Lincoln for commitment fee under Committed Purchase Agreement	$ 900
Shares issued under public offering and ATM, net of issue cost, shares	167	1,241
Shares issued under public offering and ATM, net of issue costs	$ 915	$ 27,216
Purchase of shares issued under Committed Purchase Agreement, net of issue costs, shares	480
Purchase of shares issued under Committed Purchase Agreement, net of issue costs	$ 1,977
Shares issued or accrued for services, shares	20	8
Shares issued or accrued for services	$ 120	$ 120
Warrants exercised, shares		16
Warrants exercised		$ 339
Balance, Shares	17,606	13,349
Balance	$ 218,782	$ 158,324
Maximum aggregate offering price	$ 50,000,000
Issuance and sales, shares	1,150,000
Gross proceeds from stock	$ 26,500

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended	12 Months Ended
	Jul. 18, 2022	Jul. 06, 2022	Jun. 24, 2021	Jun. 16, 2020	Sep. 30, 2020	Jun. 30, 2021	Jul. 28, 2023	Mar. 31, 2023	Mar. 31, 2023
IfrsStatementLineItems [Line Items]
Shares received									363,718
Cash fund, description									The Sales Agreement permits the Company to sell in an ATM program up to $50,000,000 of ordinary shares from time to time, the amount of which is included in the $200,000,000 of securities that may be offered, issued and sold by the Company under the base prospectus. The sales under the prospectus will be deemed to be made pursuant to an ATM program as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended. Upon termination of the Sales Agreement, any portion of the $50,000,000 included in the Sales Agreement prospectus that is not sold pursuant to the Sales Agreement will be available for sale in other offerings pursuant to the base prospectus. See Note 23(a), “Events After the Balance Sheet Date – Sale of Ordinary Shares,” for a further discussion.
Number of stock sold			1,150,000			90,888
Gross proceeds from stock sold			$ 26,500			$ 2,600
Net proceeds from stock sold						$ 2,500
Offering Cost			1,800
Management, underwriting and selling expenses			$ 1,600
Number of shares sold							186,604		2,425,999
Number of shares exchanged	1,070,000
Minority interest, percentage	21.68%
Number of ordinary share issued		94,508							94,508
Net proceeds from sale							$ 600
Salva Rx [Member]
IfrsStatementLineItems [Line Items]
Payment for settlement					$ 1,770
Warrants exercised					397,604
Exercise Price					$ 6.64
Contractual value of warrants exercised description					The Company accounted for the contractual value of the exercised and outstanding warrants of $2.64 million (397,604 shares at $6.64 per share) as accrued equity issuable at September 30, 2020. The Company also recorded a loss of $1.26 million during the year ended March 31, 2021, to recognize the discount between the fair value of the underlying shares on October 13, 2020 (the settlement date) of $9.80 per share and the contract price of $6.64 per share.
Accredited Investors [Member]
IfrsStatementLineItems [Line Items]
Shares issued in a private placement, net of issue costs, shares				698,145
Shares price				10
Shares issued in a private placement, net of issue costs				$ 6,980
Directors [Member]
IfrsStatementLineItems [Line Items]
Shares issued in a private placement, net of issue costs, shares				215,000
Shares issued in a private placement, net of issue costs				$ 2,150
A T M [Member]
IfrsStatementLineItems [Line Items]
Number of shares sold								166,145
Net proceeds from sale								$ 900
Lincoln [Member]
IfrsStatementLineItems [Line Items]
Number of shares sold								480,000
Net proceeds from sale								$ 2,000

STOCK OPTION RESERVE (Details)

STOCK OPTION RESERVE (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
IfrsStatementLineItems [Line Items]
Stock based compensation expense	$ 4,276	$ 9,142	$ 8,827
Non-controlling interests [member]
IfrsStatementLineItems [Line Items]
Begiining balance	11,659	11,468
Stock based compensation expense		191
Settled in iOx exchange	(11,659)
Ending balance		11,659	11,468
Stock Option Reserve [Member]
IfrsStatementLineItems [Line Items]
Begiining balance	16,928	7,977
Stock based compensation expense	4,276	8,951
Settled in iOx exchange
Ending balance	$ 21,204	$ 16,928	$ 7,977

STOCK OPTION RESERVE (Details 1

STOCK OPTION RESERVE (Details 1) - Amended And Restated 2021 Equity Incentive Plan [Member] - $ / shares			1 Months Ended
	Jun. 08, 2022	Jan. 13, 2021	Mar. 30, 2023	Jul. 27, 2022	Feb. 15, 2022	Jan. 19, 2022
Unvested Options [Member]
IfrsStatementLineItems [Line Items]
Risk free interest rate	3.05%	0.48%		2.83%	1.99%	1.11%
Expected dividend	0%	0%		0%	0%	0%
Expected volatility	111%	144%		112%	111%	116%
Expected life	6 years 3 months	6 years		5 years 9 months	6 years	6 years 3 months
Fair value of stock	$ 9.36	$ 17.11		$ 8.38	$ 7.20	$ 8.76
Vested Options [Member]
IfrsStatementLineItems [Line Items]
Risk free interest rate		0.48%
Expected dividend		0%
Expected volatility		139%
Expected life		5 years 6 months
Fair value of stock		$ 16.66
Unvested Options Grant One [Member]
IfrsStatementLineItems [Line Items]
Risk free interest rate			3.66%
Expected dividend			0%
Expected volatility			113%
Expected life			5 years 6 months
Fair value of stock			$ 2.43
Unvested Options Grant Four [Member]
IfrsStatementLineItems [Line Items]
Risk free interest rate			3.64%
Expected dividend			0%
Expected volatility			110%
Expected life			6 years 3 months
Fair value of stock			$ 2.48

STOCK OPTION RESERVE (Details 2

STOCK OPTION RESERVE (Details 2) - shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock Options Two [Member]
IfrsStatementLineItems [Line Items]
Beginning balance	1,275,000	1,924,000
Granted
Expired or forfeited	(1,275)	(649,000)
Ending balance		1,275,000
Exercisable as at end		1,275,000
P B I 2021 Equity Incentive Plan [Member]
IfrsStatementLineItems [Line Items]
Beginning balance	1,151,400,000	868,000,000
Granted	812,020	343,400,000
Expired or forfeited		(60,000,000)
Ending balance	1,963,420,000	1,151,400,000
Exercisable as at end	747,163,000	405,997,000

STOCK OPTION RESERVE (Details 3

STOCK OPTION RESERVE (Details 3) - $ / shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
P B I 2021 Equity Incentive Plan [Member]
IfrsStatementLineItems [Line Items]
Weighted average exercise price	$ 10.53	$ 15.47
Weighted average remaining contractual life (in years)	8 years 10 months 9 days	9 years 1 month 6 days
Stock Options Two [Member]
IfrsStatementLineItems [Line Items]
Weighted average exercise price		$ 157.60
Weighted average remaining contractual life (in years)		18 days

STOCK OPTION RESERVE (Details N

STOCK OPTION RESERVE (Details Narrative) $ / shares in Units, $ in Thousands		1 Months Ended					2 Months Ended	12 Months Ended
	Jun. 08, 2022 $ / shares shares	Mar. 30, 2023 $ / shares shares	Mar. 29, 2023 shares	Jul. 27, 2022 shares	Feb. 15, 2022 $ / shares shares	Jan. 19, 2022 $ / shares shares	Jul. 27, 2022 $ / shares	Mar. 31, 2023 USD ($) shares $ / shares	Mar. 31, 2022 USD ($) shares	Mar. 31, 2021 USD ($)	Jan. 13, 2021 $ / shares shares
IfrsStatementLineItems [Line Items]
Compensation expense | $								$ 4,300	$ 8,900	$ 8,000
Number of shares available for awards		746,120
Number of shares available for granted		87,600
Number of shares available for grants		651,020
Number of shares available for option granted		7,500
Vested Options [Member]
IfrsStatementLineItems [Line Items]
Options outstanding								7,500	7,500
Unvested Options [Member]
IfrsStatementLineItems [Line Items]
Options outstanding								738,620
Non Executive Board [Member]
IfrsStatementLineItems [Line Items]
Number of shares purchased		14,600
Stock Options [Member]
IfrsStatementLineItems [Line Items]
Exercisable price | $ / shares		$ 2.92
Expiration date		Mar. 30, 2033
Board Of Directors [Member]
IfrsStatementLineItems [Line Items]
Option issued											350,000
Consultants [Member]
IfrsStatementLineItems [Line Items]
Option issued											518,000
N 2021 Equity Incentive Plan [Member]
IfrsStatementLineItems [Line Items]
Option issued											868,000
Exercise price | $ / shares											$ 17.75
Restricted Stock Units [Member]
IfrsStatementLineItems [Line Items]
Stock granted								243,000
Fair value per share | $ / shares								$ 17.75
Compensation expense | $								$ 4,300
Amended And Restated 2021 Equity Incentive Plan [Member]
IfrsStatementLineItems [Line Items]
Stock granted						302,000
Fair value per share | $ / shares						$ 10.22
Compensation expense | $								$ 4,100
Number of shares available for awards		2,880,992	879,180
Amended And Restated 2021 Equity Incentive Plan [Member] | Board Of Directors [Member]
IfrsStatementLineItems [Line Items]
Stock granted				15,900
Fair value per share | $ / shares							$ 10.06
Amended And Restated 2021 Equity Incentive Plan [Member] | Two Members [Member]
IfrsStatementLineItems [Line Items]
Stock granted						13,800
Amended And Restated 2021 Equity Incentive Plan [Member] | Employees [Member]
IfrsStatementLineItems [Line Items]
Stock granted						288,200
Amended And Restated 2021 Equity Incentive Plan [Member] | Directors [Member]
IfrsStatementLineItems [Line Items]
Stock granted					13,800	135,740
Fair value per share | $ / shares					$ 8.59	$ 10.22
Amended And Restated 2021 Equity Incentive Plan [Member] | Executive [Member]
IfrsStatementLineItems [Line Items]
Stock granted	50,000
Fair value per share | $ / shares	$ 11
I Ox Option Plan [Member]
IfrsStatementLineItems [Line Items]
Compensation expense | $									$ 200	$ 900
Intrinsic value of stock options | $									$ 100

(LOSS) PER SHARE (Details)

(LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Profit or loss [abstract]
Net loss attributable to owners of the Company	$ (104,611)	$ (16,870)	$ (15,833)
Weighted average number of shares – Basic and Diluted	16,119	13,060	11,733
Basic and diluted (loss) per share	$ (6.49)	$ (1.29)	$ (1.35)

(LOSS) PER SHARE (Details 1)

(LOSS) PER SHARE (Details 1) - shares	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Stock Options [Member]
IfrsStatementLineItems [Line Items]
Anti-dilutive effect on loss per share	1,963,420	1,151,400	868,000
Restricted Stock Units [Member]
IfrsStatementLineItems [Line Items]
Anti-dilutive effect on loss per share	378,740	378,740	243,000
Warrants [member]
IfrsStatementLineItems [Line Items]
Anti-dilutive effect on loss per share		33,888	49,701

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details Narrative) € / shares in Units, $ in Thousands		12 Months Ended
	Jul. 06, 2022 USD ($) shares	Mar. 31, 2023 USD ($) shares	Jul. 13, 2022 EUR (€) € / shares
IfrsStatementLineItems [Line Items]
Budget cost related to services | $		$ 12,100
Convertible note | €			€ 600,000
Interest rate			7%
Conversion of debt | €			€ 20,000,000
Conversion of debt into shares | €			€ 5,000,000
Share price, per share | € / shares			€ 363
Number of ordinary shares issued | shares	94,508	94,508
Lincoln [Member]
IfrsStatementLineItems [Line Items]
Aggregate value | $	$ 30,000
Commitment fee | $		$ 900

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)			1 Months Ended			12 Months Ended
	Dec. 15, 2021	Sep. 08, 2021	Dec. 19, 2022	Dec. 31, 2021	Jan. 31, 2018	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
IfrsStatementLineItems [Line Items]
Portage paid Intensity						$ 69,759,000	$ 83,437,000	$ 77,088,000
Portage unpaid Intensity						$ 63,624,000
Interest incurred								$ 78,427,000
Portage ordinary shares						1,070,000
Base salary	$ 618,000,000
Annual base salary	$ 348,000
Base salaries			$ 469,000
Compensation committee				$ 600,000
Original annual targets percentage				73.50%
Annual feesDescription						Additionally, the chairperson of each of the Audit Committee, Compensation Committee and Nominating Committee is entitled to annual fees of $15,000, $12,000 and $8,000, respectively, payable quarterly in arrears. Members of those committees will be entitled to annual fees of $7,500, $6,000 and $4,000, respectively, payable quarterly in arrears.
Acquisition Of Salva Rx [Member]
IfrsStatementLineItems [Line Items]
Percentage owned on shares						4.10%
Portage Glasgow Ltd [Member]
IfrsStatementLineItems [Line Items]
Wholly-owned subsidiary, description					PPL held 65% equity in PGL, committed to provide financing and also handles financial and administrative matters of PGL. The Company disposed of 100% of its interests in PPL and PGL on March 3, 2021.
Salva Rx [Member]
IfrsStatementLineItems [Line Items]
Accrued interest						$ 692,045,000
Principal paid to director						805,000,000
Exchange of notes payable for SalvaRx warrants						$ 2,415,000,000
Warrants price						$ 6.64
Issuance of unsecured notes, description		Company, through SalvaRx, completed a settlement of loans (including interest) to and receivables from iOx for services rendered in exchange for 23,772 ordinary shares of iOx at a price of £162. Simultaneously, the Company entered into an agreement with OSI, the holder of $0.15 million notes plus accrued interest under which OSI exchanged the notes plus accrued interest for 820 shares of iOx. The Company followed the guidance provided by an IFRS Discussion Group Public Meeting dated November 29, 2016, following the general tenets of IAS 39, “Financial Instruments: Recognition and Measurement,” and IFRIC 19, “Extinguishing Financial Liabilities with Equity Instruments,” and recorded the exchange at historical cost. Additionally, no profit or loss was recorded in connection with the exchange. As a result of these transactions, the Company, through SalvaRx, increased its ownership of iOx from 60.49% to 78.32%.

FINANCIAL INSTRUMENTS AND RIS_3

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Financial assets
Cash and cash equivalents	$ 10,545	$ 23,352	$ 2,770	$ 3,152
Financial liabilities
Deferred purchase price payable - Tarus	7,179
Deferred obligation - iOx milestone	4,126
Amortized Cost [Member]
Financial assets
Cash and cash equivalents	10,545	23,352
Prepaid expenses and other receivables	2,689	1,480
Convertible note receivable, including accrued interest, net of impairment
Investment in associate
Investment in private company
Financial liabilities
Accounts payable and accrued liabilities	1,865	750
Warrant liability
Deferred purchase price payable - Tarus
Deferred obligation - iOx milestone
Fair Value To Other Comprehensive Income [Member]
Financial assets
Cash and cash equivalents
Prepaid expenses and other receivables
Convertible note receivable, including accrued interest, net of impairment
Investment in associate
Investment in private company	2,087	7,409
Fair Value Through Profit Or Loss [Member]
Financial assets
Cash and cash equivalents
Prepaid expenses and other receivables
Convertible note receivable, including accrued interest, net of impairment	442
Investment in associate	806	1,673
Investment in private company
Financial liabilities
Accounts payable and accrued liabilities
Warrant liability		33
Deferred purchase price payable - Tarus	7,179
Deferred obligation - iOx milestone	$ 4,126

FINANCIAL INSTRUMENTS AND RIS_4

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Details Narrative) $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($)
IfrsStatementLineItems [Line Items]
Impairment analysis	$ 607
Decreasing the carrying value	806
Notes receivable	614
Unrealized gain	39
Increasing carrying value	653
Impairment of convertible note	211
Decreasing impairment carrying value	442
Tarus [Member]
IfrsStatementLineItems [Line Items]
Gain on decrease in fair value of the liability	1,359
I O X [Member]
IfrsStatementLineItems [Line Items]
Gain on decrease in fair value of the liability	$ 1,352

CAPITAL DISCLOSURES (Details Na

CAPITAL DISCLOSURES (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Capital Disclosures
Payables and accrued expenses	$ 1,900	$ 800
Current assets	13,700	24,800
Shareholders' equity attributable to owners	$ 76,000	$ 121,200

NON-CONTROLLING INTEREST (Detai

NON-CONTROLLING INTEREST (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
IfrsStatementLineItems [Line Items]
Non-controlling interest, at beginning	$ 44,229	$ 46,153
Stock based compensation expense		191
Exchange of notes payable accrued interest and warrants for iOx shares		184
Net (loss) attributable to non-controlling interest	(55)	(2,299)
Purchase of non-controlling interest pursuant to Share Exchange Agreement	(44,824)
Non-controlling interest, at ending	(650)	44,229
I O X [Member]
IfrsStatementLineItems [Line Items]
Non-controlling interest, at beginning	44,701	46,173
Stock based compensation expense		191
Exchange of notes payable accrued interest and warrants for iOx shares		184
Net (loss) attributable to non-controlling interest	123	(1,847)
Purchase of non-controlling interest pursuant to Share Exchange Agreement	(44,824)
Non-controlling interest, at ending		44,701
Saugatuck [Member]
IfrsStatementLineItems [Line Items]
Non-controlling interest, at beginning	(472)	(20)
Stock based compensation expense
Exchange of notes payable accrued interest and warrants for iOx shares
Net (loss) attributable to non-controlling interest	(178)	(452)
Purchase of non-controlling interest pursuant to Share Exchange Agreement
Non-controlling interest, at ending	$ (650)	$ (472)

EVENTS AFTER THE BALANCE SHEE_2

EVENTS AFTER THE BALANCE SHEET DATE (Details Narrative) - USD ($) $ in Thousands				4 Months Ended	12 Months Ended
	Jul. 07, 2023	Jul. 05, 2023	Jun. 30, 2023	Jul. 28, 2023	Mar. 31, 2023
IfrsStatementLineItems [Line Items]
Number of shares sold				186,604	2,425,999
Net proceeds from sale				$ 600
Intensity [Member]
IfrsStatementLineItems [Line Items]
Number of shares sold	585,000	3,900,000
Net proceeds from sale		$ 16,200
Price per share		5	5.96
Interest intensity shares					644,229
Interest intensity value					$ 2,087
Additional antidilution shares					2,659
Percentage of voting equity interests acquired	4.70%