Universal Pictures will fully finance and distribute HELLBOY 2, the Guillermo del Toro-directed sequel to the 2004 Dark Horse Comic-spawned film, reports Variety.

Studio picks up a project orphaned by Revolution Studios, which made the original and distributed through its deal at Columbia Pictures. With Revolution out of business, the sequel became available and Universal slotted it for summer 2008.

In a script by del Toro, Ron Perlman returns as Hellboy, the humanoid creature born in the flames of hell who was deposited on Earth's doorstep as an infant and battles otherworldly evil for a covert government agency. Selma Blair returns as the horned hero's pyrokinetic love interest.