Biel and her business partner, Michelle Purple, will produce the project through their company, FilmColony. The film, which is an adaptation of the book by Megan Abbott, will also star Richard Gladstein.
Marcia and Geoffrey Blake will be writing the screenplay which follows a teacher and her LAPD detective brother whose lives are turned upside down by a mysterious woman, played by Biel.
Biel, who is the girlfriend of Justin Timberlake, shared her comic talents in the film I Now Pronounce You Chuck and Larry, and is currently filming Powder Blue with Forrest Whitaker, Patrick Swayze and Ray Liotta.