Krasinski is best known as one of the stars of the American version of The Office, which was an adaptation of the British comedy by the same name co-created by Merchant and Ricky Gervais.
Described as "an absurd workplace comedy set in a neglected dream-therapy facility," Dream Corp, LLC will go into production in Los Angeles this year. It is set to air under the cable television network's Adult Swim programming banner. No premiere date has been announced yet.
"Each week, viewers will watch as a rotating cast of desperate patients have their dreams recorded and analyzed by Dream Corp's absent-minded professor, Dr. Roberts [played by Jon Gries,] and his team of unremarkable scientists," a news release said.