EXCLUSIVE: HBO is teaming with Will Ferrell and Adam McKay’s Gary Sanchez and actress Lizzy Caplan to develop a comedy series project based on actress/writer Julie Klausner’s memoir I Don’t Care About Your Band. The project is eyed as a potential starring vehicle for Caplan, who is coming off Starz’s cult comedy series Party Down. The book, a gritty but comedic look at what it’s like to navigate the dating world in your 20s, chronicles Klausner’s experiences from her preadolescent sexual awakenings through the unsavory details of sleeping with a gallery of losers throughout her 20s.

Gary Sanchez’s Owen Burke brought the book to the company’s Jessica Elbaum, who recently received an Emmy nomination for executive producing Ferrell’s You’re Welcome America HBO special. (She also exec produced the one-man Broadway play the special was adapted from from.) Elbaum started developing the project with Caplan. Gary Sanchez’ Ferrell, McKay, Chris Henchy and Elbaum will executive produce Band, with Caplan and Burke producing.

Band expands Gary Sanchez’ relationship with HBO. The CAA/WME-repped company produces HBO’s comedy series Eastbound & Down, which is returning for a second season. HBO also owns a stake in Gary Sanchez’s successful comedy web site Funny or Die, which spawned a Funny or Die-branded sketch comedy series on the pay cable channel.

Caplan, repped by CAA and Benderspink, also has a history with HBO where she recurred on True Blood. The actress recently completed Danny Boyle’s 127 Hours and indie Queens of Country. She got a lot of praise for her guest starring stint on the CBS comedy pilot Mad Love but declined to stay on as a regular on the show, which was picked up to series for midseason.