Celluloid Dreams has optioned the rights to Philip K. Dick's 1969 novel "Ubik."
A metaphysical comic nightmare on death and salvation, Ubik was heralded as one of the 100 greatest English-language novels by Time magazine.
Variety says the film will be produced by Hengameh Panahi of Celluloid Dreams and Isa Dick Hackett, the author's daughter, of Electric Shepherd Prods.
"Our dad very much wanted this novel to be reimagined in this way and we are happy to be partnering with Celluloid Dreams, whose overall vision and appreciation of the material is consistent with our own," said Dick Hackett.
The film is scheduled to go into production in early 2009.