In the place, where the church stands today, an ancient temple was previously located, situated on a high pedestal, accessed from the side of the via Sacra, using steep, high steps. It was built in 141 A.D. by Emperor Antonin Pius for his wife Faustina the Elder, who was deified. After the death of the emperor, the Senate also dedicated it to him. It is confirmed by the inscription placed on the entablature of the ambulatory: „Divo Antonio et Divae Faustinae ex S[enatus] C[onsulto]”. The preserved until present day Corinthian columns led to the cell, where the sanctuary of the deified couple was located.

The temple was closed during the reign of Emperor Theodosius the Great, since it was officially forbidden to worship pagan gods, and for centuries it deteriorated until the VII or VIII century when the cell was used for the cult of St. Lawrence. The legend which, appeared in the meanwhile claimed that it was here that the saint deacon was condemned to death.

Documents concerning the church, come from the XI century and tell of a monastery which was established here. It is with it, that the name of the church is probably connected (in Miranda), which researchers connect with the name of the benefactor of this monastery – perhaps its founder – a relatively unknown Miranda. In the XV century, part of the cell was taken apart, while the church itself by the order of Pope Martin V, was put under the care of a guild responsible for the manufacture of and supervision over medicines and medicinal herbal preparations. And so it remains until this very day, since the church belongs to the College of Chemists and Pharmacists (Collegio Chimico Farmaceutico). On the ground floor of the church a museum of pharmacy is currently located.

Another chapter in the history of the church was written one hundered years later, in 1536 when the Eternal City was visited by Emperor Charles V. At that time the additions which sprung up during the centuries were demolished, while six antique columns of the ambulatory were once again uncovered. However, it was not until the very beginning of the XVII century, when changes still visible today were made. A new façade was built, however, retaining some ancient elements.

During the reign of Benito Mussolini, who preferred an active approach to the issue of tidying the forums and churches existing in Rome, it almost fell victim, to the process that was alive in the thirties of the XX century of cleansing Roman ruins of all later Catholic elements – it was even intended to be torn down. The church has one, topped off with a cradle vault, nave, towards which three chapels open up on each side.

The interior hides within, several significant works of art. Perhaps the most valuable is the altarpiece, by Pietro da Cortona, depicting the martyrdom of St. Lawrence (1646).

The most important objects found in the church interior (standing with our back towards Forum Romanum):

• Chapel (first on the left). In is main altar there is a work of the outstanding Baroque painter, Domenichino, entitled Madonna and Child with SS. Philip and James (1627), in a Baroque setting with two atlantes supporting the entablature. Unfortunately the altar is partially destroyed due to bad restoration techniques.

• Second chapel on the left. Once again St. Lawrence appears here The painting Martyrdom of St. Lawrence, was created in the XVI century and is attributed to an unknown Flemish artist – perhaps the very same who painted The Beheading of St. John the Baptist, also found in this church. And while the scene itself does not strike with either originality or quality of execution, the background of the painting does seem interesting – the remains of the Basilica of Maxentius on Forum Romanum. It is surprising, that the painter desiring to transport us into the ancient times of the III century, presented the Forum as it was in his times.
• Third chapel on the left. It is worth taking a look at the Assumption of Our Lady, a mannerist painting from around the year 1600, as well as XVIII-century frescos in the tondi depicting scenes from the life of Mary and her Coronation.
• Third chapel on the right: The Annunciation, painted by a student of Domenichino – Alessandro Fortuna.
• Second chapel on the right: The Beheading of St. John the Baptist, painting from the beginning of the XVII century, most likely by a Flemish painter.
• First chapel on the right: The Crucifixion with St. Francis: a painting by an unknown caravaggionist from the XVII century. 

Since the church is not open to tourists, it is filled with a sort of surrealistic atmosphere. It breaths silence and emptiness, which are constantly drowned out by the hustle and bustle of tourists visiting the Forum Romanum, which stretches at its feet. If one would like to take a look at them, it is enough to take a peek out of the original doors of the church, presently located a few meters above the ground. The steps located at the base of the structure lead to nowhere, so there is no risk that the crowd could break into its interior. From here we can admire the remains of the Forum Romanum in all its beauty. However, it must be admitted that both entering the church as well as being allowed to see the door to the Forum open is no easy feat and requires some doing.

The church may be accessed every Thursday between 10 am and 1pm. It is entered from the side of via Miranda 10, through the offices of the College of Chemists and Pharmacists which resides here, and takes care of the building.