Chile’s Fabula, the company behind Pablo Larrain’s Cannes-winner “No,” a Sony Pictures Classics U.S. pick-up, has a new film moving towards production, “La Princesita,” Marialy Rivas’ follow-up to “Young & Wild.”

Turning on a teen girl’s awakening sexual duality, the Elle Driver-sold “Wild” won 2012’s Sundance World Cinema Screenwriting Award.

Written by Rivas and Camila Gutierrez, whose real-life blog helped inspire “Wild,” “Princesita” retains the evangelical family background, but focuses on a 11-year-old girl, her school and home life.

Screenplay workshopped at the Sundance Lab. Rivas and Gutierrez are finishing a first draft, said Fabula producer Juan de Dios Larrain.

“Princesita” is “like a kind of thriller,” Larrain said, deriving tension from “the idea of what life is like beyond the family and what the family says reality is like.”

The project’s “very fresh,” he added.

Participant Media’s first foreign-language pic investment, Gael Garcia Bernal-starrer “No” won Cannes Directors’ Fortnight’s Art Cinema Award.

In September, the Fabula-produced “Gloria” won San Sebastian’s top Films in Progress Industry Award and proved one of the most hotly-pursued pics in post at the Spanish festival, receiving multiple offers from sales agents and distributors.

Fabula is currently producing its second season of “Profugos,” an HBO Latin America original series.