Nicolas Chartier's Voltage Pictures is selling international rights to the story, set over the course of one night in 1956 as police scour the streets of New York for an escaped axe murderer.
Pressman will produce with Charles Finch, Steve Lanning, and Philip Hobbs, who co-produced Kubrick's 1997 release Full Metal Jacket.
Commercials director Chris Palmer makes his directorial debut from a screenplay that Stephen R Clarke wrote based a treatment by the late American crime novelist Jim Thompson. Thompson wrote additional dialogue for Kubrick's 1956 noir film The Killing.
Chartier is also handling sales on Pressman's sci-fi action film The Mutant Chronicles starring Thomas Jane and John Malkovich and is showing 10 minutes of footage.