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Robert Downey Jr. is developing a live-action remake of Disney’s Pinocchio, and has asked longtime friend, director Paul Thomas Anderson to step in as screenwriter.

As originally reported by The Hollywood Reporter, Downey has been developing the project for Warner Bros. and has asked Anderson (Inherent Vice, The Master), to help develop an adaptation of the classic children’s tale. EW has confirmed Anderson is closing a deal to join Pinocchio, a move which would pair him with Downey on a film project for the first time.

Pinocchio — the latest feature to join the current trend of developing live-action takes on animated Disney classics — will be produced by the Avengers actor and his wife, Susan Downey, under their Team Downey banner. Dan Jinks (Milk) has also been tapped to produce.

Originally published in 1883 by Italian children’s writer Carlo Collodi, The Adventures of Pinocchio follows the story of an elderly woodworker named Gepetto, whose wooden puppet is brought to life with the help of fairy. Disney’s animated feature on the boy was released in 1940 (its second effort following Snow White and the Seven Dwarfs), which introduced audiences to now-iconic character Jiminy Cricket. The film went on to earn two Oscars, including Best Original Song for the tune “When You Wish Upon A Star.”