“Blockers” director Kay Cannon is looking to strike gold with Lionsgate’s latest treasure-hunting story “79ers.”

Cannon will work alongside Seth Rogen and Evan Goldberg’s production company Point Grey, as well as Will Ferrell’s Gary Sanchez Productions, who are partnering to produce the film. Dylan Meyer is writing the script, based on actor Ben Schwartz’s original screenplay about a group of estranged friends who are reunited after 20 years to complete an unfinished treasure hunt they began as teens.

“Kay is wonderful at capturing characters in situational conflict and is the perfect choice for this re-engineered coming of age comedy.  I hope when we are finished with this film it feels like “Goonies” for adults,” Lionsgate president Nathan Kahane said in a statement. “I have loved this script ever since I first read it. It has such great roles for a group of actors as our estranged friends have the wisdom and life experience of 30 year-olds but the baggage of their teen years that they have to overcome as they reunite for a legendary treasure hunt that has eluded them for decades.”

Cannon, known for writing the “Pitch Perfect” franchise, made her feature film debut with Universal Picture’s Blockers, which has grossed more than $94 million worldwide. Cannon is also the writer and director of Sony Picture’s upcoming musical comedy adaptation of Cinderella, starring Camila Cabello.

Cannon is represented by WME.