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MadRiver Pictures is developing a movie based on the landmark 1980 bank robbery shootout in North Corona, Calif., and is in final talks with “Never Let Me Go” director Mark Romanek to come on board.

MadRiver will finance and produce “Norco,” written by Adair Cole. Producers are Marc Butan and Mason Novick (“Juno”) with Edward Fee exec producing and Michelle Knudsen co-producing.

The robbery and shootout saw two of the five heavily armed perpetrators and one sheriff’s deputy killed with another eight wounded. Gunfire damaged over 30 police cars and one police helicopter.

The shootout resulted in police officers starting to arm themselves with automatic weapons, leading to the increased militarization of police forces.

Butan launched MadRiver Pictures in Cannes following an initial capitalization from private and strategic investors and a $30 million revolving equity investment from Vendian Entertainment. The company plans to finance and produce three to four wide release films per year in the $15 million-$50 million budget range.

MadRiver’s slate includes “A Willing Patriot,” starring Liam Neeson, acquired by Open Road Films; John Hillcoat’s “Triple 9,” starring Chiwetel Ejiofor, Casey Affleck, Woody Harrelson, Kate Winslet, Aaron Paul and Anthony Mackie, due out from Open Road on Sept. 11; “Pride and Prejudice and Zombies,” starring Lily James, Sam Riley, Jack Huston and Lena Headey, due out Feb. 19 from Screen Gems; and James Gray’s “The Lost City of Z,” starring Charlie Hunnam, which begins shooting in August.

Romanek is represented by CAA and LBI Entertainment. Cole is represented by UTA and MXN Entertainment.