Merrick here...

Universal has acquired the rights to Larry Doyle's novel GO MUTANTS! Imagine's Brian Grazer will produce the film from a script by Doyle; the book itself won't be published until Summer 2010.

"Go Mutants!" is a teen comedy/adventure set in a high school where all of the tropes from classic 1950s alien invasion movies came true. Years later, the children of those mutant creatures have assimilated among the other kids.

Doyle said the book and movie invites cameos from '50s fright fixtures like Gort -- the robot from "The Day the Earth Stood Still" -- and the creature from the black lagoon

...says THIS ARTICLE in Variety.

Shades of ROSWELL and BUCKAROO BANZAI I guess?

Personally, I'd rather see something like this than, say, the redux of MONSTER SQUAD we keep hearing about. This is the first I've heard of the book - cant wait to get a look at it.