Arnold Schwarzenegger is close to signing on for a lead role in the long gestating The Toxic Avenger reboot. The action icon won't be taking on the title role as Toxie, but instead will be playing a secondary lead, a character that is being kept under wraps for the time being.

Hot Tub Time Machine director Steve Pink is behind the screenplay for this remake of the classic 80s Troma film. International Film Trust is taking the project to Cannes seeking potential buyers, with the movie being described as an action adventure that will appeal to mainstream audiences.

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Daniel C. Mitchell co-wrote the screenplay alongside Steve Pink, with Elysium Films attached to produce.

The Toxic Avenger sprang to life in 1984 as a gloriously gory and over the top horror comedy from Troma films, directed by Michael Herz and Lloyd Kaufman. The storyline revolves around a meek janitor who is doused with toxic waste and mutates into a head-smashing superhero. The franchise has spawned 5 feature films, including the soon to be released Toxic Twins: The Toxic Avenger V, and an animated TV series.

It is not known when The Toxic Avenger reboot might go into production, but producers are hoping for a 2014 release.