James Wan is developing a new adaptation of Creature from the Black Lagoon.

James Wan, known for directing Aquaman, is working on a new adaptation of Creature From the Black Lagoon. He is in the early stages of discussions to direct the project for Universal Pictures.

The film is envisioned as a “grounded, modernized retelling” that focuses on visceral horror while honoring the 1954 classic. This remake marks another attempt by Universal Pictures to revisit its classic monster films. Previous efforts, including projects led by Guillermo del Toro, did not materialize.

Universal’s approach to classic monsters has shifted following the failure of its Dark Universe initiative, which began with the poorly received The Mummy. The studio has since opted for standalone films, with mixed results. The Invisible Man (2020) achieved success, grossing $143 million worldwide on a $7 million budget, while Renfield underperformed with only $26 million globally. A remake of Wolf Man, starring Christopher Abbott, is also in development.

Wan’s production company, Atomic Monster, which recently merged with Blumhouse, will produce the film. Atomic Monster is known for hits like M3GAN, The Nun, and Annabelle. Wan, who has also directed Furious 7 and Aquaman, is one of the few directors with multiple films that have each earned over $1 billion worldwide. Wan is represented by CAA, Stacey Testro International, and Myman Greenspan Fox Rosenberg Mobasser Younger & Light.

Michael Clear and Judson Scott of Atomic Monster will serve as executive producers, while Universal’s executive VP of production development Jay Polidoro will oversee the project for the studio.