The project is described as a "fresh new take" on Robert Louis Stevenson's 1886 novella Strange Case of Dr Jekyll and Mr Hyde.
Tony Wood (Hollyoaks, The Only Way is Essex) has partnered with Cineflix Studios to launch new independent company Buccaneer Media, which will produce the series.
"Launching Buccaneer is a hugely exciting move for me," said Wood. "Our ambition is to build a globally focused company producing everything from family entertainment to high quality drama and structured reality rooted in the social media landscape.
"But at its heart, Buccaneer will have a simple philosophy: compelling characters, strong narratives and emotional underpinning all combining to create the most engaging television for as many audiences as possible.
"Forming this partnership with Cineflix Studios will mean I can draw on their expertise and experience in producing for US and Canadian networks while retaining the creativity and independence to achieve my ambition for Buccaneer."
Eddie Izzard was recently cast in NBC's new drama Hannibal - which will air on Sky Living in the UK from May 7.
> Eddie Izzard to run for London Mayor in six years
Watch a trailer for NBC's Hannibal below:
http://www.digitalspy.co.uk/ustv/news/a474173/eddie-izzard-to-star-in-new-jekyll-and-hyde-drama.html