Jones will direct the film from a script written by himself and Gavin Scott, with Ben Timlett and Bill Jones are producing. The film will include voiceovers from Monty Python alumni Jones, Terry Gilliam, Michael Palin and John Cleese.
While the project was first mooted in 2010, filming is expected to begin in the first quarter of 2013, reports The Wrap.
The film will revolve around a school-teacher who develops super-powers, but struggles to gain control over them.
British actress Arterton’s recent credits include Clash of the Titans and Byzantium, while Cumberbatch recently signed on to play The Beatles manager Brian Epstein in The Fifth Beatle.
