Polish developers Techland (Dead Island, Call of Juarez) have announced their next project - Hellraid - a "First-Person Co-Op Slasher".

The game will feature a story-driven singleplayer campaign as well as a co-operative multiplayer component that also features a "Game Master" system which should ensure lots of replayability.
Screenshots:
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Artwork:
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Hellraid is set to debut on PC, PS3 and Xbox 360 later this year, with no mention of a publisher as of now.