Luca Guadagnino is getting ready to explore a fresh take on Patrick Bateman.

The filmmaker is in final negotiations to helm a new film adaptation for Lionsgate of author Bret Easton Ellis‘ 1991 novel American Psycho. The book was previously adapted into a film from director Mary Herron that starred Christian Bale as lead character Bateman, with Lionsgate releasing it in theaters in 2000.

Scott Z. Burns is writing the script for the project that is produced by Frenesy Films and is said to not be a remake of the first adaptation but rather a new take on the novel. Sam Pressman of Pressman Films — whose father, Edward R. Pressman, produced the 2000 movie — is executive producing the new version.

American Psycho centers on investment banker Bateman, who seemingly leads a double life as a serial killer.

“We are thrilled to add another elite filmmaker to our upcoming slate,” said Lionsgate Motion Picture Group chair Adam Fogelson in a statement. “Luca is a brilliant artist, and the perfect visionary to create a whole new interpretation of this potent and classic IP.”

Guadagnino’s most recent film is the Amazon feature Challengers, which hit theaters in the spring and stars Zendaya, Josh O’Connor and Mike Fast. The filmmaker’s next movie, Queer, stars Daniel Craig and is set for theatrical release Nov. 27 from A24. Guadagnino is currently in postproduction on After the Hunt, with leads Julia Roberts and Andrew Garfield.

Burns most recently created last year’s Apple TV+ series Extrapolations, featuring an ensemble cast that includes Meryl Streep, Sienna Miller, Kit Harington, Edward Norton, Diane Lane and Daveed Diggs. Burns helmed the 2019 Amazon movie The Report and has writing credits that include The Bourne Ultimatum.

Guadagnino is represented by CAA, Range Media Partners, and Goodman Genow. Burns is repped by UTA, Range Media Partners and Jackoway Austen.