Twelve years after its second instalment, part three of long-in-the-works horror movie series "Jeepers Creepers" is finally a reality. 

The third instalment of Victor Salva's cult horror movie series will be financed by Myriad Pictures, which is all set to launch its international sales at TIFF through its latest genre label Scoundrel.

Jonathan Breck will reprise his role of the limb-loving The Creeper, and Brandon Smith will be his pursuer portraying the character of Sergeant Davis Tubbs. Other leads of the movie have not been cast yet.

The movie will be co-produced by Francis Ford Coppola's American Zoetrope (who produced first two films) along with Kirk Shaw, Surai Gohill's Odyssey Media and Stan Spry's The Cartel.

Myriad's Kirk D'Amico will be the executive producer while Coppola, Shaw and Spry will jointly produce the film.

The original movie was released in 2001 by MGM/UA starring Justin Long and Gina Phillips as the brother-sister duo who run across a horrific creature known as The Creeper, which feasts on body parts to produce parts of its own. The commercial success of the first movie led to a sequel in 2003.

At Myriad's announcement, Salva has hinted about possible sequels and even a TV series on the franchise.

As reported by the Hollywood Reporter, Salva said, "What will go before cameras as 'Jeepers Creepers 3' is a new and terrifying chapter from the Jeepers universe.

"We are bringing back the Creeper's truck, and will be addressing the big questions about The Creeper; what it is, where it came from and why it does what it does."