Television writer Ian Goldberg and Richard Naing are on board to adapt the book, said The Hollywood Reporter.
Dave Neustadter, Richard Brener and Walter Hamada will oversee the project for New Line.
The story revolves around a 10-year-old boy who suffers from Asperger's as well as agoraphobia. But he also develops the ability to bring to life whatever he draws, which unfortunately happens to be monsters.
The kid's best friend, his parents and a priest's housekeeper finds out about it and try to help the boy.
Wan, 38 is currently in working on "The Conjuring 2" and is also developing "Aquaman".
