Luca Guadagnino, the Italian film-maker, will bring a new interpretation of Bret Easton Ellis’s novel American Psycho to the screen. The acclaimed director of Call Me by Your Name and Challengers will work with screenwriter Scott Z Burns to find an updated way into the material. Burns is known for his many collaborations with Steven Soderbergh including Contagion, Side Effects and The Informant.

“Luca is a brilliant artist, and the perfect visionary to create a whole new interpretation of this potent and classic IP,” said Lionsgate chair Adam Fogelson in a statement. The 1991 book was an object of notoriety upon release, telling the violent story of an image-obsessed investment banker who is also a serial killer. It was adapted into a 2000 film starring Christian Bale and later a stage musical starring Matt Smith.