Green adapted the screenplay with Chris Gebert and this version follows an American exchange student in Europe who attends a school that acts as decoy for a sinister organisation.
Janet McTeer, Michael Nyqvist and Antje Traue also star.
Green has also acquired the rights to the Goblin Music Group's classic score from the film.
Adam Ripp, Rob Paris, Francesco Melzi d'Eril and Luca Guadagnino are producing this ill advised pic
Production is set to kick off in September.
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