According to Deadline, the film covers the final two days in the life of the Nirvana frontman right up to his suicide.
Screenwriter David Benioff first took on the project in fall 2007 for Working Title and Reveille.
Some of the material for the film will come from Charles R. Cross' 2001 biography, Heavier Than Heaven: A Biography of Kurt Cobain, says The Risky Business blog.
Universal originally purchased the life rights of both Cobain and his widow, Courtney Love, who had already optioned the film rights to the Cross book.
Ben Silverman will produce, alongside Eric Fellner and Tim Bevan. Love is an executive producer as is her lawyer Howard Weitzman.