Deep Down, revealed by Capcom at the PlayStation 4's announcement event in February, has a new trailer which shows that the game is being developed by Capcom Online Games and is a connected-RPG which will be showcased at the Tokyo Game Show.
The trailer, which is only 48 seconds long, highlights some of the ruined environments and enemies players will be facing.
Deep Down is being developed on Capcom's next-gen Panta Rhei engine. For an in-game screen from the game, head over here.
The game's producer, Yoshinori Ono of Street Fighter fame, has said "We wanted to be free to utilise the PS4's hardware capabilities and unique services without the constraints of working within an existing IP.
"Of course, the development experience we gain will put us in an even better position to bring our existing series to the console in a way that takes full advantage of its hardware and software."
So far, the game has only been announced for PS4.