Christopher Nolan directed Memento from his own script, adapted from a short story by his brother Jonathan Nolan titled Memento Mori. The 2000 film, starring Guy Pearce as an amnesiac, was presented in a series of black-and-white scenes shown chronologically, and colour sequences shown in reverse order.
Memento premiered at the Venice International Film Festival and was a solid box office performer with nearly US$40 million. It also received Oscar nominations for best original screenplay and best film editing.
"Memento has been consistently ranked as one of the best films of its decade."
AMBI took ownership of Memento remake rights when the company acquired the Exclusive Media Group film library in September.
AMBI announced a new $200 million film fund last week. Monika Bacardi and Andrea Iervolino are anchor investors in the fund along with New York-based private equity firm Raven Capital Management, leading to greenlighting Memento as its newest feature production.
"Memento has been consistently ranked as one of the best films of its decade. People who've seen Memento 10 times still feel they need to see it one more time," Iervolino said. "This is a quality that we feel really supports and justifies a remake. The bar is set high thanks to the brilliance or Christopher Nolan, but we wouldn't want it any other way."
AMBI's film slate includes James Franco's In Dubious Battle, starring Nat Wolff, Selena Gomez, Vincent D'Onofrio, Robert Duvall, Ed Harris and Bryan Cranston; the CGI family animated film Arctic Justice: Thunder Squad, featuring the voices of Franco, John Cleese, Alec Baldwin, Angelica Huston and Heidi Klum; Septembers of Shiraz, with Salma Hayek and Adrien Brody; and the contemporary fairy tale This Beautiful Fantastic, toplined by Jessica Brown Findlay and Tom Wilkinson.