*That's a horrible title. Bad, News Minion!*
Hungarian developer Digital Reality and Japanese development house Grasshopper Manufacture have recently announced a collaboration for a new line of games, the first of which was just announced this week.
Sine Mora is a side-scrolling shooter with a focus on time-manipulation, and the product will allow for those with 3D displays to see a more spectacular experience. The game is slotted for release on both XBLA and PSN, and Suda 51, the main man behind Grasshopper, he will not be directing it, although he is providing a supervisory role. It has a "loose release window" of about a year, so expect it before the world ends in 2012.
While no concrete footage or screenshots have been provided, a poster was recently found and posted by Destructoid.
Suda 51, director of Grasshopper, is currently working alongside Resident Evil creator Sinji Mikami and EA Partners on a large horror adventure product. It is rumored that it will arrive at this September's EA Tokyo Game Showcase event prior to the Tokyo Game Show.