Jessica Biel Devil And The Deep Blue SeaTwo days ago, AngelWorld Entertainment announced the creation of a $150M equity fund with merchant bank First Wall Street. The next day, it said it would finance and produce The Big Shoe starring Susan Sarandon and Jim Sturgess. And on the third day, the company says it has signed on to finance and produce The Devil And The Deep Blue Sea starring Jessica Biel, Chloë Moretz, and Jeffrey Dean Morgan. Set in New Orleans, the story follows grieving widower Henry, whose wife recently died in a car accident. He finds refuge by helping a wisecracking young girl fulfill her dream of building a raft and sailing across the Atlantic Ocean. Biel plays the wife, Morgan is the widower and Moretz is the aspiring sailor.

Segueing to features, Private Practice‘s Bill Purple will direct from a script by Natural Selection‘s Robbie Pickering. Justin Timberlake will compose and serve as music supervisor for the soundtrack. Biel is producing with Michelle Purple under their Iron Ocean Films banner and alongside Preferred Content’s Ross M. Dinerstein and AngelWorld’s Darby Angel. Principal photography is set to begin in the fall.

Biel is represented by CAA and Management 360; Moretz and Timberlake by WME. CAA, which represents Pickering, set up financing for the film and represents North American distribution rights.