THR is reporting that Legendary Entertainment has acquired the rights to Troma’s cult classic mutant superhero The Toxic Avenger, with plans to relaunch the property as a big-budget franchise.

The 1984 film centers on a mild-mannered janitor who finds himself transformed into a mutated superhuman crime-fighter after falling into a vat of toxic waste. The film proved an early hit for Troma Entertainment, and led to the sequels The Toxic Avenger Part II, The Toxic Avenger Part III: The Last Temptation of Toxie and Citizen Toxie: The Toxic Avenger IV.

A remake of The Toxic Avenger has been in the pipeline for a number of years, with Steve Pink (Hot Tub Time Machine) and Conrad Vernon (Sausage Party) attached to direct at one point or another and both John Travolta and Arnold Schwarzenegger linked to star.

As yet, Legendary is yet to attach a writer or director to the remake, although Troma co-founders Lloyd Kaufman and Michael Herz will serve as producers.

via Flickering Myth