Following the impressive box office success of Insidious: Chapter Two, another sequel in the horror franchise is moving forward. eOne, FilmDistrict, and Sony Pictures Worldwide announced today that they are developing a third Insidious film, with Insidious and Insidious: Chapter Two screenwriter Leigh Whannell returning to pen the screenplay. James Wan directed the first two installments, but after the back-to-back successes of The Conjuring and Insidious 2, he has stated his intention to move away from the horror genre and try his hand at other kinds of films. He’s currently busy directing Fast & Furious 7 and the press release makes no mention of his involvement with Insidious: Chapter Three, so it’s unlikely that he will return to direct.

Jason Blum and Oren Peli are producing the third installment, but further details about the horror sequel are unknown. The second film made over $40 million in its opening weekend against a $5 million budget, so clearly continuing the series is in the best interest of the studios. Hopefully Whannell develops a worthwhile story. Hit the jump to read the press release.

Here’s the press release: