When Toxic Avenger was first released by B-Movie powerhouse, no one would have expected that it would eventually spawn several sequels, a toy line, and a Saturday Morning Cartoon, but that’s probably why we’ve got the news report that came out today.

THR is reporting that Legendary has acquired the rights to the 1984 film from Troma and is planning a big-budget remake of the film. We don’t know much about the project, but we dow know that Troma icons Lloyd Kaufman and Michael Herz are on board to produce… but for all we know that could just be in name only.

We aren’t really sure how to feel about this remake. A large part of the charm of the original films come from the fact that they were low-budget, Troma style movies. It’s hard to imagine the film retaining its same charm with a large studio behind it. Still, we love Toxie, so we will keep our fingers crossed!