AMBI Pictures, led by Andrea Iervolino and Monika Bacardi, will finance and produce the remake of the 2000 breakout thriller, said The Hollywood Reporter.
The company has acquired the remake rights through its acquisition of the library of Exclusive Media Group.
The project was green-lit after AMBI launched a USD 200 million film fund last week, which followed the acquisition of the library.
"'Memento' is a masterpiece that leaves audiences guessing not just throughout the film, but long after as well, which is a testament to its daring approach. We intend to stay true to Christopher Nolan's vision and deliver a memorable movie that is every bit as edgy, iconic and award-worthy as the original.
"Memento", based on Nolan's younger brother Jonathan Nolan's short story "Memento Mori", starred Guy Pearce as a man, who is tracking down his wife's killer, but suffers from a unique from of memory loss.
The movie was successful at the box office and received Academy Award nominations for Best Original Screenplay and Best Film Editing.
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