According to Deadline, Daisy Ridley (Star Wars: The Force Awakens) and two-time Academy Award nominee Naomi Watts (Divergent series) are in final negotiations to star in Ophelia.

Adapted from Lisa Klein’s award-winning 2007 novel, doomed heroine Ophelia takes center stage in this re-imagining of Shakespeare’s famous tragedy, Hamlet. Set in the 14th century but spoken in contemporary voice, the tale revolves around Ophelia, a trusted lady-in-waiting at Elsinore Castle who falls in love with Prince Hamlet. However tragedy strikes and murder and madness ensue. Ophelia must choose between her love for Hamlet and her own life. She plans to escape Elsinore, but keeps a dangerous secret – she is pregnant with Hamlet’s child.

Claire McCarthy (The Waiting City) will helm from a screenplay penned by Semi Chellas (Mad Men). Daniel Bobker and Ehren Kruger (The Brothers Grimm) are producing along with Sarah Curtis (Hysteria).

Bobker said, “Sarah, Ehren and I have always treated this film like a jewel, since there’s something extra precious in bringing to life a treasured female icon, celebrated for centuries as an alluring figure in the shadows of Shakespeare’s most famous work, without ever really having her own story told.”

Ridley, the breakout star of the rebooted Star Wars franchise, is slated to star in J. J. Abrams’ production of the fantasy-thriller Kolma. More recently it was announced that Ridley will star in a World War II-era love story, The Lost Wife. She is currently shooting the next installment of Star Wars in which she reprises her role as Rey. Episode VIII bows on December 15, 2017.

Watts who was on the big screen earlier this year in Allegiant starring Shailene Woodley (The Fault in our Stars), will reprise her role as Evelyn in next year’s The Divergent Series: Ascendant. She was in the Jake Gyllenhall-starrer Demolition which opened in theaters last month. Watts will be seen next in Farren Blackburn’s thriller Shut In later this year with Jacob Tremblay (Room), about a widowed child psychologist who rescues a young boy in a deadly winter storm. She is slated to star opposite Academy Awrd winning actress Brie Larson (Room) in Destin Daniel Cretton’s The Glass Castle, currently in pre-production.

Covert Media will finance and handle international sales for Ophelia at Cannes. CAA will handle domestic sales.