Film unit boards Jessica Biel starrer

In its second financing-producing deal in two days, AngelWorld Entertainment has come on board “The Devil in the Deep Blue Sea,” starring Jessica Biel, Chloë Moretz and Jeffrey Dean Morgan.

Deal was announced Monday at Cannes, two days after AWE launched its $150 million equity fund for independent film productions resulting from a strategic alliance with Glenn Myles’ First Wall Street global merchant bank.

“The Devil in the Deep Blue Sea” joins dramatic comedy “The Big Shoe,” starring Jim Sturgess and Susan Sarandon, which became AWE’s first project on Sunday.

Bill Purple (“Private Practice”) will direct “Devil” from a script by Robbie Pickering. Justin Timberlake will compose and serve as music supervisor for the film’s soundtrack.

Biel will produce with Michelle Purple under their Iron Ocean Films banner alongside Preferred Content’s Ross M. Dinerstein and AngelWorld’s Darby Angel. Lensing expected to start in the fall.

“The Devil in the Deep Blue Sea” follows a grieving widower, who recently lost his wife (portrayed by Biel) in a tragic car accident, as he finds refuge by helping a wisecracking young girl (played by Moretz) fulfill her dream of building a raft and sailing across the Atlantic Ocean.

CAA, which represents Pickering, set up financing for the film and represents its North American distribution rights.

Biel is represented by CAA and Management 360. Moretz and Timberlake are repped by WME.

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