"The Lost Girls" will chronicle four generations of Darling women as they struggle in the aftermath of their adventures with the boy who never grew up in Neverland.
Livia De Paolis is adapting, directing and starring in the film, which also features Thompson’s daughter, Gaia Wise.
Emma will play Gaia's grandmother in the movie, while acting legend Burstyn portrays the family matriarch.
De Paolis says, "I have been fascinated with the hidden meanings of fairytales since childhood, so when I read Laurie Fox's novel 'The Lost Girls' I was immediately on board with the way she reinvents J.M. Barrie's timeless fairytale for a contemporary audience."