Eric Newman and Marc Abraham of Strike Entertainment are producing as well as Gary Ross and Allison Thomas via their Larger Than Life Productions. (Ross’s father was one of the writers on the original.)

Despite earlier reports, Carl Rinsch is not attached to direct.

The 1954 movie centered on a prehistoric water-breathing humanoid monster that lived in a remote Amazonian river and a group of scientists that want to study him.

The studio has been trying to remake the title since the early 1980s and Kajganich is starting from scratch.

STORY: Stephen King's 'It' to Be Adapted by Cary Fukunaga Into Two Films

The scribe is known for his horror scripts. Invasion was a remake of Invasion of the Body Snatchers and while the movie production was troubled, it paved the way for him to work on the remake of Pet Sematary. Recently he worked on high-profile adaptation of Stephen King’s It and The Stand, which are in development at Warners.

He is repped by UTA, Madhouse Entertainment and Jackoway Tyerman.

Universal’s vp of production Anikah McLaren and creative exec Sara Scott are overseeing the project for the studio. Kristel Laiblin will exec produce for Strike.