Vapor: Sandra Bullock and Ralph Fiennes will star in Neil LaBute's Vapor for London-based Renaissance Films, reports Variety.

The pic, budgeted just below $30 million, is based on Amanda Filipacchi's novel about a struggling actress who saves the life of a stranger. He turns out to be an eccentric scientist who, in a surreal variation of the Pygmalion myth, offers to use his bizarre techniques to transform her into a star.

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Warner Bros., where Bullock has a production deal, is a favorite to pick up North American rights, although three other U.S. distributors are also said to be chasing the project. The film is set to shoot in September.

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