The Mexican director is poised to helm the project, which is a new version of the original 1966 Fantastic Voyage starring Stephen Boyd and Raquel Welch. The film centred on a group of scientists who are shrunk and sent in a miniature submarine inside the body of a scientist to save his life.

News of Del Toro's involvement comes after plans for a sequel to his hit sci-fi action film Pacific Rim were "indefinitely delayed" to allow the director and his team to perfect the follow-up.

Pacific Rim 2 had originally been slated to hit theatres in August, 2017.