Jamie Thraves adapted the screenplay and will begin filming in Canada in June. Julia Sereny of Canada's Sienna Films and MACT Production's Antoine de Clermont-Tonnerre will produce, with the BBC's David Thompson serving as executive producer.
Polley, whose directorial debut Away From Her screens in Panorama Special, will play a troubled young woman who embarks upon an affair with an architect (Morrissey) who has been stalking her. The woman's jealous boyfriend investigates her new lover and goes missing shortly after that. Scott Speedman and Debra Messing are negotiating to round out the key cast.
Highsmith, who died 12 years ago, is one of the literary world's most celebrated - and adapted - crime writers. Anthony Minghella gave The Talented Mr Ripley the big screen treatment in 1999 and it went on to garner five Oscar nominations.
Los Angeles-based Myriad's EFM sales slate includes Factory Girl starring Sienna Miller, Dark Matter starring Meryl Streep, Death Defying Acts with Catherine Zeta-Jones and Guy Pearce, and Jack And Jill Vs The World, which stars Freddie Prinze Jr and Taryn Manning.
Myriad chief Kirk D'Amico is attending the EFM with distribution president Ann Dubinet, sales and distribution executive director Trevor Wright, and Pamela Rodi, who recently joined as executive vice president of marketing.