Based in Los Angeles and Austin, Texas, I Am Third Productions is developing Father Elijah, based on Michael O'Brien's books about a Carmelite priest sent to defeat a man believed to be the Antichrist.
Kanter is also preparing Morning Star And Moon as a vehicle for Shirley MacLaine.
Malick's husband Terrence Malick will act as advisor to the company, which is backed by equity investors and aims to produce two films a year in the $10m-20m budget range.
No US distributors are attached to the projects as yet. Kanter and Malick will appoint international sales agents on a case-by-case basis.