Big-budget Robert Rodriguez action thriller Hypnotic is moving forward a deal between Solstice Studios and Studio 8. The news comes as the companies unveiled a strategic partnership with Hypnotic as the first project.

Studio 8 and Solstice Studios will produce the film, with Solstice spearheading U.S. distribution and international sales, and Studio 8 retaining the option to co-finance.

The touted script, originally set up by Studio 8, follows a detective who becomes entangled in a mystery involving his missing daughter and a secret government program, while investigating a string of impossible high-end heists. Cast are in discussions for the project, which we understand is budgeted $60 million-$80 million.

Alita: Battle Angel and Sin City director Rodriguez scripted the movie with Max Borenstein (Kong: Skull Island). Pic is due to shoot early next year. Rodriguez, Jeff Robinov and his Studio 8 colleagues Guy Danella and John Graham will produce.

We hear the companies will celebrate the tie-up at AFM, which gets underway next week in Santa Monica.

Solstice’s slate also includes Russell Crowe thriller Unhinged, action-thriller Manhunt and assassin story Split Second.