InXile Entertainment are developing Hunted: The Demon's Forge for publisher Bethesda on PC, Playstation 3 and Xbox 360. InXile Entertainment was founded by Brian Fargo (The Bard's Tale) in 2002 and Hunted: The Demon's Forge is an action-RPG with co-operative play and lots of gore.
Here are a couple of quotes from the press release, and you can have a peak at the first few screens below...
"We are thrilled to be working with Bethesda Softworks on this upcoming release that takes us back to our roots," said Brian Fargo, Founder of inXile Entertainment. "Bethesda's track record speaks for itself and the game we are developing for them is no exception."
"inXile has an extremely talented team and we couldn't be more pleased to have them working on one of our upcoming titles," said Vlatko Andonov, President of Bethesda Softworks. "We believe gamers will be really excited about what these guys have in store for them."