Metroid Dread developer MercurySteam working on third-person action-RPG "set in a dark fantasy world"

Will be co-published by 505 Games.

MercurySteam, the developer behind this year's critically acclaimed Metroid Dread for Switch, has announced it's working on a new third-person action-RPG "set in a dark fantasy world".

Details on the new title, codenamed Project Iron, are limited, but it's described as a brand-new IP intended for a multi-platform global release. Project Iron's initial development investment is set at €27m (approximately £23m), and the IP will be co-owned by MercurySteam and Digital Bros, the parent company of 505 Games, which is co-publishing the game.

"With MercurySteam's creative vision and talent and 505 Games extensive experience, gamers can expect a high-quality, captivating and engaging video game", the two companies write in an official statement accompanying today's announcement.

Let's Play Metroid Dread.

MercurySteam, founded in 2002, first made its mark with the release of 2010's Castlevania: Lords of Shadow, and would go on to develop two more entries in Konami's rebooted series. It later partnered with Nintendo on 2017's Metroid: Samus Returns and revisited the franchise earlier this year for Switch's enormously well-received Metroid Dread.

"This is a modern Metroid, a 2D adventure delivered with triple-A panache, yet one that retains the grace and poise that's always marked the highlights of this series," Eurogamer's Martin Robinson wrote in his Recommended review of Metroid Dread. "How blessed we are to have Samus properly back, and what a marvel it is to be reminded how special Metroid can be."

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