The project is the first in a series of planned collaborations between Midnight Picture Show and Matador Pictures to turn other Book Of Blood stories into features.
Los Angeles-based Essential Entertainment is handling worldwide sales on Book Of Blood and will launch the project at EFM next week.
The first in what is being positioned as a new franchise, Book Of Blood centres on a paranormal investigator who discovers a house at the intersection of 'highways' transporting souls in the afterlife. Sophie Ward and Jonas Armstrong star and John Harrison will direct from a screenplay he co-wrote with Darin Silverman.
Barker himself will produce alongside Midnight Picture Show's Jorge Saralegui and Joe Daley, UK production house Matador Pictures' Nigel Thomas and Lauri Apelian and Micky Macpherson of Edinburgh-based Plum Films.
The film is being produced with UK-based production and financing company Cinema One and boutique finance house Regent Capital, with funding from Newbridge Entertainment Capital, Scottish Screen and Entertainment Motion Pictures.