Now that we're done with Paul W.S. Anderson's trilogy of Resident Evil films, Capcom has announced that they will be making a "full-length CG animation feature" based on the Resident Evil property. The new film is set to be called Biohazard: Degeneration, and Capcom is going to be working with Sony Pictures of Japan's subsidary SPEJ.

So far all the Resident Evil films have proved successful, grossing over $100 million internationally, and over $150 million in the U.S. markets, making back a good deal more than their budgets. Capcom will certainly enjoy the boost in finances from this movie, although at the moment, there's no word on whether it will be released on DVD or in theaters. All we know as of now is that the film will be a 2008 release.

The film promises to have "groundbreaking visual effects and a brand-new story line," so while you're busy debating what the new story could be, check out the full press release after the jump.

CAPCOM Co., Ltd. (Osaka, Japan -- representative director and president: Haruhiro Tsujimoto; hereinafter "CAPCOM") and Sony Pictures Entertainment Japan Co., Ltd. (Tokyo Japan -- representative director and president: Ken Munekata; hereinafter "SPEJ") have announced coproduction of "BIOHAZARD: Degeneration," the first full-length CG animation feature based upon the BIOHAZARD series of games and movies.

BIOHAZARD, began as a hit international video game franchise created by CAPCOM, then made its debut on the silver screen as the live-action film RESIDENT EVIL (the international film title for BIOHAZARD), distributed worldwide by Sony Pictures Entertainment. RESIDENT EVIL is the first trilogy of live-action movies to have come from a video game franchise. CAPCOM and Sony Picture's Japanese subsidiary SPEJ have teamed up to give birth to a CG-animated BIOHAZARD with groundbreaking visual effects and a brand-new story line.

Since its initial release in 1996, the BIOHAZARD series of games has established the "survival horror" genre and has shipped over a 33 million units worldwide, continuing to captivate its fans as a powerful property. CAPCOM will continue to release new games within the franchise, such as "BIOHAZARD: Umbrella Chronicles" and "BIOHAZARD 5"

The films "RESIDENT EVIL" and "RESIDENT EVIL 2: APOCALYPSE" have each grossed more than US$ 100 million at the Box Office internationally. "RESIDENT EVIL 3" aka "BIOHAZARD 3" (debuting throughout Japan on November 3) has been the biggest hit of the series in the US to date, adding to the high performance and public support for this franchise.

The full CG animation feature "BIOHAZARD: Degeneration" is currently in production, with plans for a terrifying release in 2008.