Max Payne creator, Remedy

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Announced in a press release , Remedy confirmed that the title will be "a cinematic third person action game set in a new Remedy-created universe". It also confirmed that it will be multiplatform, slated for PlayStation 4, Xbox One and PC."Featuring an intriguing story and a game structure offering a long-lasting experience," reads the release, "P7 contains the deepest game mechanics yet in a Remedy game."Raffaele Galante, CEO of Digital Bros spoke to the deal, saying "It is a sign of how far 505 Games has come that we are now in a position to partner with such a talented development studio as Remedy Entertainment”.Remedy Entertainment's CEO, Tero Virtala also stated that “We have a strong vision of what P7 should be. 505 Games brings into this partnership experience and competences that help us successfully make this vision become reality together. Remedy is also investing in P7 and is deeply committed to creating an unique gaming experience that will keep the players engaged and playing for a long time to come. We are really excited to embark on this journey with 505 Games.”The previously announced project codenamed P7 will receive €7.75 million in funding from the Abzu and Sniper Elite publisher, in return for a payment of 45% royalties on net sales.

Hope Corrigan is a freelance news writer for IGN. You can find her on the internet.