Remedy Entertainment, the studio behind games like Alan Wake and Quantum Break has made a deal with 505 Games for its named project, which is codenamed “P7.” This global publishing deal covers P7’s physical and digital release for Xbox One, PlayStation 4, and PC.
As part of this deal, 505 Games is giving Remedy €7.75 million ($8.46 million) in funding for the game’s development. 505 will also market and publish the game, with the company receiving a royalty rate of 45% on P7’s game sales.
This announcement also contains some details on P7, which until now has been almost a complete mystery. It is currently 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.”
He continues, “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.”
More details about P7 will be added once they are announced.