The story follows a boating party that gets lost in the Norfolk broads and discovers a terrifying secret.
The Reeds is one of two projects, along with Marc Forby's Barbarian Princess (sold by ContentFilm International), being backed by UK regional screen agency Screen East.
The agency has put more than $729,553 (Euros 500,000) towards the two films from its Content Investment Fund.
Sheryl Crown, Screen East's Executive Producer said: 'We are thrilled and excited to have such a wide variety of feature films working with us in the East of England. We have some great directors and producers working across a truly innovative and distinctive range of international feature films.'
The Content Investment Fund, backed by the European Regional Development Fund, runs through December 2008 and will support at least 12 projects in total across film, TV and digital media. Other Screen East-backed recent features include My Talks With Dean Spanley, Mad, Sad and Bad and I Know You Know.