Blomkamp directed Sharlto Copley in District 9 and they will reunite for this project, which is being set up by Media Rights Capital. They are currently seeking distribution for the movie, and here's what an insider told the site:
"Neill is taking meetings all over town. There is a lot of interest from every studio."
Not much is known about the story of Elysium, although it is said to take place on a distant planet in the future and, much like District 9, will feature social and political themes embedded in a sci-fi action movie setting.