Megan Ellison's Annapurna to Finance New Steven Soderbergh Project, Open Road to Distribute

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Annapurna Pictures and Open Road Films are partnering on Side Effects, the latest project from Steven Soderbergh.

The psychological thriller will be financed and produced by Megan Ellison’s Annapurna Pictures and released domestically by Open Road Films. The distribution deal is a bit of surprise since reports, now proved premature and erroneous, had the film going to Summit. (The film was being chased by several bidders.)

The project, which a few weeks ago was being circulated under the title of Bitter Pill, is described as a thriller set in the world of psychopharmacology. Soderbergh stepped up to direct it after exiting Man From U.N.C.L.E.

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Scott Z. Burns wrote the script and is producing with Gregory Jacobs and Lorenzo di Bonaventura. Ellison, Marc Butan and Ted Schipper are executive producing.

The moviemakers hope to nail down a cast in the coming weeks and start shooting in April. Open Road is planning a wide release in the first half of 2013. Filmnation is handling international sales and will introduce the movie at Berlin’s European Film Market.