Remedy Entertainment, the studio behind games like Alan Wake and Quantum Break, has reached a deal with 505 Games for its next project, which is codenamed P7. The global publishing deal covers P7′s physical and digital release for PlayStation 4, Xbox One, and PC.

A scene from Quantum Break
A scene from Quantum Break

As part of the deal, 505 Games is giving Remedy €7.75 million ($8.46 million) in funding for the development of the game. 505 will also market and publish the game, with the company getting a royalty rate of 45 percent on P7′s game sales.

The announcement also contains some details on P7, which until now has been shrouded in almost complete secrecy. It’s billed as a “cinematic third-person action game” set in a universe that Remedy created.

“Featuring an intriguing story and a game structure offering a long-lasting experience, P7 contains the “deepest game mechanics yet in a Remedy game,” the press release said, adding that the game runs on Remedy’s internal Northlight engine.

We have a strong vision of what P7 should be,” Remedy CEO Tero Virtala said. “505 Games brings into this partnership experience and competences that help us successfully make this vision become reality together. Remedy is also investing in P7 and is deeply committed to creating an unique gaming experience that will keep the players engaged and playing for a long time to come. We are really excited to embark on this journey with 505 Games.”

We’ll report back with more details on P7 as they are announced.

In addition to P7, Remedy is making the sequel to CrossFire in partnership with Korean studio Smilegate.

It remains to be seen if Remedy will make a sequel to Quantum Break or Alan Wake. Quantum Break “sold really well,” Microsoft marketing boss Aaron Greenberg said last year. At the same time, he made it sound like there won’t be a sequel. “Just like every movie, not every game needs a sequel,” he said.

On the subject of Alan Wake, Remedy has said time and again that it has ideas for a new game in the series, though it looks like it’s not happening soon.

What are you hoping to see from Remedy’s next game? Let us know in the comments below!