Science Ninja Team Gatchaman is a Japanese animated franchise that began back in 1972. Created by Tatsuo Yoshida and produced by Tatsunoko Production, the anime series followed a five-member superhero team. In 1978, the series was adapted for American audiences. The North American adaptation was called Battle of the Planets.
Currently, there's another American adaptation of the series in the works and it's a live-action movie adaptation. The Russo Bros. are attached as producers and may well also direct. They're best known for Captain America: Civil War, Avengers: Infinity War, and Avengers: Endgame (the latter of which is the highest-grossing movie of all time).
The live-action project was announced back in July 2019 during San Diego Comic-Con. It has gone under the radar since but thankfully one of the brothers, Joe Russo, recently provided an update on the project (via Toonado).
According to the producer, he and his brother are in the midst of a developmental phase that they call "IP Incubation" wherein they essentially figure out the key components of whatever they're adapting.
"We're in what we call the development phase. The way we work, we do what we call IP Incubation, and it is a protracted process," Russo began before further detailing their pre-production process.
"We have to take something like Battle of the Planets, take it through a filter, find out what it is that we loved most about that show growing up, reinterpret it - because it is not going to be an exact adaptation of the series. It's going to be our own story to tell surrounding a group of genetically altered kids who are involved in a space war."
"That is the approach we take, and that can take months of gestating and trying to figure out what the new mythology is. Then we commit that to a bible and from that bible we do some artwork as exploration. Once we have artwork which we're inspired by, we write the script. So we're at the Bible phase of Battle of the Planets."