Michele and Kieran Mulroney make their directorial debut on the film; they recently co-wrote the DC Comics' adaptation Justice League for Warner Bros.
Paper Man chronicles the unlikely friendship between a failed author and a Long Island teenager who teaches him a thing or two about growing up. As the relationship develops, the author's wife and his imaginary superhero friend disapprove.
Film Colony's Richard Gladstein is producing with Guymon Casady of Film 360, the production division of Management 360, and Artfire's Ara Katz and Art Spigel.
Artfire Films is financing the film and shooting is scheduled to begin on November 12 in New York and Montauk. Management 360's Darin Friedman will serve as executive producer alongside Artfire's Dan Fireman.
'We are thrilled to introduce this outstanding project to distributors at the American Film Market,' Mark Lindsay of Kimmel International said. 'Michele and Kieran have written a wonderful script which attracted great actors and first-rate producers.'
The Mulroneys are represented by Management 360, CAA and attorney Gretchen Rush.
CAA and UTA are handling domestic rights.