Philippe Rousselet's Vendome Pictures will team with Mark Gordon on the sci-fi thriller Source Code, a star vehicle for Jake Gyllenhaal, the trades report.
Moon director Duncan Jones will step behind the camera on the film for which Summit has already pre-sold rights to more than 15 territories at the AFM.
The story follows a soldier who wakes up in the body of an unknown commuter and is forced to live and relive a train bombing until he can find the perpetrator. Ben Ripley wrote the screenplay with revisions from Billy Ray.
Production is set for first quarter 2010. Summit will release in the US. CAA packaged and arranged financing for the film.
The project had originally been set up at Universal in early 2007 when the studio bought Ripley's screenplay and attached Topher Grace to star, Variety notes.
Mark Gordon will produce with Rousselet. Rousselet is a French producer of such films as Andrew Niccol's Lord of War. He set up Vendome with Fabrice Gianfermi a year ago, backed by a $115 million revolving credit facility funded by a consortium of banks.