The script is being written by Andrew Kevin Walker, who scared moviegoers with the creepy film, "Seven," Daily Variety reported Wednesday.
Universal put out the original 1941 "The Wolf Man," starring Lon Chaney Jr., Variety noted. Like the original, the new version will also be set in Victorian England, but will include some horrifying new twists.
Del Toro is reportedly a collector of "Wolf Man" memorabilia.
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