The action thriller, to be helmed by Swedish director Jonas Akerlund, is an adaption of Victor Santos graphic novel "Polar: Came From The Cold".
Jayson Rothwell will pen the big screen adaptation, according to the Variety.
The 51-year-old actor will play a retiring assassin Duncan Vizla, aka the Black Kaiser.
The project will be produced by Constantin Film's Robert Kulzer, Bolt Pictures' Jeremy Bolt, Dark Horse Entertainment's Mike Richardson, and Keith Goldberg, with Martin Moszkowicz executive producing.
"Mads Mikkelsen was born to play the world's best assassin. He is totally believable as the Black Kaiser in 'Polar' and Jonas' unique, vibrant but grounded and darkly comic style will set 'Polar' apart as an unforgettable tale," said Bolt.
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