Square Enix working on with Feelplus and Kouichi "Isuke" Yotsui who worked on Strider for Capcom. The game was unveiled at E3 under the name Necromachina and slated for release in 2010 on PlayStation Network and Xbox Live Arcade.
Nechromachina was a no-show last year, but it’s still in development. Now going by the Japanese name, Moon Diver, we’ll see Necrom – I mean Moon Diver sometime this spring.
Source: Siliconera