Luca Guadagnino is getting ready to explore a fresh take on Patrick Bateman.

The filmmaker is in negotiations to helm a new film adaptation for Lionsgate of the 1991 novel American Psycho by author Bret Easton Ellis. The book was previously adapted into a film from director Mary Herron that starred Christian Bale as lead character Bateman, with Lionsgate releasing it in theaters in 2000.

Scott Z. Burns is writing the script for the project that is produced by Frenesy Films and is said to not be a remake of the first adaptation but rather a new take on the novel. Sam Pressman of Pressman Films — whose father, Edward R. Pressman, produced the 2000 movie — is executive producing the new version.

“We are thrilled to add another elite filmmaker to our upcoming slate,” said Lionsgate Motion Picture Group chair Adam Fogelson in a statement. “Luca is a brilliant artist, and the perfect visionary...