New Line Cinema has acquired the $60 million animated feature "Planet 51" from Handmade Films International and Ilion Animation Studios reports Reuters.

Penned by Joe Stillman ("Shrek"), the story is set on Planet 51, whose inhabitants live in fear of an alien invasion. Their paranoia is realized when astronaut Capt. Charles "Chuck" Baker arrives from Earth.

Befriended by a young resident, the astronaut has to avoid capture in order to recover his spaceship and return home.

Directed by Jorge Blanco (videogame "Commandos") is co-directiong with Javier Abad and Marcos Martinez with production set to wrap in March 2009 for release later that year.