Publisher 505 Games and developer Remedy Entertainment have announced a new partnership that will oversee a “brand new game” code-named Project 7.

The venture is said to be worth €7.75 million, while the official announcement confirms that the mysterious game will be a “cinematic third-person action” experience. In addition, Project 7 will feature an “intriguing story” and a design with deep gameplay mechanics that will offer “long-lasting” entertainment for players.

More interestingly, Project 7 will be set in a “Remedy-created universe.” However, the announcement does not clarify as to whether this will be an existing universe from the several popular franchises that the studio owns or a brand new one.

In development for both consoles and PC, the upcoming game will be powered by the developer’s proprietary Northlight engine. Th same platform is hailed by the team for boasting “next-generation” particle lighting and sound.

“We have a strong vision of what P7 should be,” said Remedy Entertainment CEO Tero Virtala. “505 Games brings into this partnership experience and competences that help us successfully make this vision become reality together. Remedy is also investing in P7 and is deeply committed to creating an unique gaming experience that will keep the players engaged and playing for a long time to come. We are really excited to embark on this journey with 505 Games.”

Remedy Entertainment is responsible for the likes of Alan Wake, Max Payne, and Quantum Break. Fans would love to see the developer work on a new Alan Wake game. To be fair, there were some rumors circulating last year about a possible return. The notion of an existing universe certainly fits well with the psychological horror action-adventure series. A fresh take, held together by new technology, would catch everyone’s attention.

That being said, with the announcement of the partnership just arriving. It is logical to assume that Project 7 is still very early in its development. We will have to wait it out until the game is unveiled for the public.