Jeff Lemire’s graphic novel tells of an underwater welder who has a supernatural encounter at the bottom of the sea.
Ryan Gosling, Ken Kao’s Waypoint and Anonymous Content will produce the film.
Lemire, Top Shelf editor-in-chief Chris Staros and IDW Publishing CEO Ted Adams are attached as executive producers.
Gosling was recently nominated for a best lead actor Oscar for La La Land and won the musical or comedy Golden Globe for the role.
He is in pre-production on Neil Armstrong drama The First Man with La La Land director Damien Chazelle and will next be seen in Blade Runner 2049 in October.
Kao backs Bloom Media and produced Rampart and the upcoming Hostiles, The Outsider and The Glass Castle, among others.
Anonymous Content’s credits include Spotlight, The Revenant, Mr. Robot and True Detective.