Sony has picked up ‘District 9’ director Neill Blomkamp’s big budgeted follow up ‘Elysium’.

Rumored to have a budget set at $120 million, ‘Elysium’ is a big step from Blomkamp’s $35 million, under-the-radar hit, ‘District 9’. The new film will star Matt Damon (‘Hereafter’, Bourne Identity’), Jodie Foster (‘Contact’, The Brave One’) and Sharlto Copley (‘District 9’, ‘The A-Team’) with futurist superstar Syd Mead (‘Blade Runner’, ‘Alien’, ‘Tron’) doing design work.

While the story details are under wraps, rumors put the story 100 years in the future possibly on another planet.

Pre-production is set to start in April with filming to take place in Vancouver and Mexico City beginning in July. A tentative release date is set for late 2012.