The cult classic Highlander is being relaunched by Summit Entertainment. The script is being penned by Iron Man co-writers Art Marcum and Matt Holloway. Although Summit has acquired the remake rights from Davis/Panzer Productions, Peter Davis will still produce the new film. He was one of the original producers of the 1986 film.

According to Davis, the new version will be built around more back story elements and prequel aspects that will build and expand upon the original, but still remain faithful to the existing universe.

The original Highlander starred Christopher Lambert, Sean Connery, and Clancy Brown and centered around immortal beings battling among humans, hunting down, and collecting more power by beheading one another. The film went on to spur several sequels, TV series, games, books, and other spinoffs. The last sequel, Highlander: The Source was released straight to DVD a couple of months back. It starred Adrian Paul and was directed by Brett Leonard (Virtuosity and The Lawnmower Man).

Source: The Hollywood Reporter