Foresight Unlimited has brought onto the market one of the biggest – if not the biggest – of new projects at Cannes: the sci-fi action film “Inversion,” Mark Damon, chairman-CEO of Foresight Unlimited announced Sunday at Cannes.

Foresight Unlimited is handling international sales on the epic. It is budgeted at $120 million, Damon added.

“Inversion” turns on a scenario where the Earth suddenly loses its gravity, the catastrophic results of such a phenomenon and what could be done, if anything, to restore gravity and save the Earth and its six billion inhabitants.

The epic is written by Bragi Schut and Academy Award nominee David Arata (“Children of Men”). It charts a global chase against the clock with the narrative traveling across continents from China to Europe to the U.S. culminating in a startling gravity inverted NYC.

Philip Lee (“Cloud Atlas”), Michael Nozik (“Syriana) and Markus Barmettler (“Conviction”) produce. They are currently in discussions with a director who will be named shortly, Foresight said.

Hong Kong’s Pegasus Motion Pictures will lead the financing for the film, that is set to start shooting in January 2015.  Pre-production commences August 2014.

“We have yet to discuss what rights Pegasus will get, as for such an exciting project, we want to maximize the Asian incomes through many different possible ways,” said John Chong, Pegasus’ chief creative officer.

“Inversion” was introduced to buyers only days before the market started and confirmed with first pre-sales Sunday at Cannes. Damon and Foresight president Tamara Birkemoe have completed deals in a number of  major territories worldwide including Spain (DeAPlaneta), Russia (West Films), Benelux (DFW), Scandinavia (Mis Label), and Eastern Europe (Freeman). Latin America , South Africa, Philippines, the Middle East, Turkey, India and Thailand have also sold. A number of other territories are in active discussions, Foresight said.

A major US studio will release the film in the U.S, it added.

“We are thrilled with the sales that Mark Damon and his Foresight Unlimited team have done,” said Nozik.

“The market’s response has been so strong, it confirms this film is an original and incredibly fresh story that asks, what if gravity, the most taken for granted and least understood part of nature, betrayed us.”

Mark Damon commented: “It’s been incredible.  The film has just wowed everyone and attracted the leading distributors around the world.  It’s such a unique concept that it’s taken the market by storm.  Our buyers have said it’s the talk of the Croisette. We are certainly not unhappy about that!”