We first reported on this project back in January, when Robert Downey Jr. and Tim Burton signed on. Bryan Fuller (Hannibal, Pushing Daisies) wrote the original draft of the script.
This version will feature Robert Downey Jr. as Geppetto, who creates the wooden puppet Pinocchio. When his creation goes missing, Geppetto goes on a journey to find the marionette.
Dan Jinks is producing for the studio. It isn't known when production may begin. Jane Goldman is best known for writing movies such as Stardust, Kick-Ass, The Debt, X-Men: First Class, and this year's The Woman in Black. She also wrote the upcoming sequel X-Men: Days of Future Past.