Good Universe has launched development of a movie based on Lydia Millet’s satirical novel “Mermaids in Paradise” with Ed Helms, Mike Falbo, Danica Radovanov and Jonathan Krisel producing.

The company has bought a comedy pitch from “Portlandia” writer-director Krisel and writer Graham Wagner. Krisel, an executive producer on the series, is set to direct “Mermaids” from Wagner’s screenplay.

Helms and Falbo will produce through their Pacific Electric Picture Co. Nathan Kahane and Joe Drake of Good Universe will executive produce. Spencer Wong, who brought the project to the company, will oversee for Good Universe.

“Mermaids in Paradise” tells the story of a couple who discover the existence of mermaids while celebrating their marriage in a tropical paradise and work to prevent the mermaids’ reef from being turned into a theme park.

Krisel and Wagner will next collaborate on “Baskets,” the upcoming Zach Galifianakis/Louis C.K. show for FX that debuts in 2016.

Krisel is represented by UTA and Mosaic. Wagner is represented by Mosaic and ICM. Helms is represented by UTA and Principato-Young Entertainment. Millet is represented by RWSG Literary on behalf of Lippincott Massie Mcquilkin. Dan Freedman negotiated the deals for Good Universe.