IFC and the Weinstein Company are joining forces again, this time to buy North American rights for Christina Ricci starrer Penelope, according to Variety.

The film is a teen fable that concerns a woman with a facial deformity who must marry someone from her own class to break an evil spell. The movie, which world premiered at the Toronto Film Festival last month, was produced by Reese Witherspoon, Jennifer Simpson and Scott Steindorff.

Reese Witherspoon and James McAvoy also star. Mark Palansky directed.

IFC will handle theatrical while TWC will control home video and television.

The theatrical release is set for 2007.