Iron Man writing team Art Marcum and Matt Holloway have been signed up by Summit Entertainment to reinvent the Highlander franchise.

Summit bought the remake rights from Davis/Panzer Productions, and following Bill Panzer's death last year, Peter Davis will produce the new version. Summit co-chairman Patrick Wachsberger told Variety he had "always dreamed of reinventing this franchise."

The new Highlander will mix contemporary settings, action, mythology and medieval Scotland, as it follows the battle between the last Immortals, a race who can live forever unless they are decapitated. The survivor wins a mysterious Prize.

Despite the original 1986 film, starring Christopher Lambert and Sean Connery, being promoted with the tagline "There can only be one", Highlander has spawned four movie sequels as well as three television spin-offs.