Tokyopop, Odin’s Eye Team on Dreaming Movie

Los Angeles-based manga publisher Tokyopop has agreed with Sydney-based production company Odin’s Eye to produce a film based on The Dreaming graphic novel series.

The live-action 3D production will be produced in Australia and based on the thriller story created by Sydney native Queenie Chan.

Shayne Armstrong and Shane Krause are writing the adaptation. Tokyopop founder Stu Levy and Michael Favelle will produce and Kate Woods is directing.

Emphasis will be placed on the stylization and production design of the stereoscopic 3D cinematography while keeping focus on the characters.

Screen New South Wales is providing the first phase of development finance, and production funding will come from a mix of Australia’s producer’s offset, private equity, and pre-sales. Production is planned for 2011, working toward a late 2012 release.