Luc Besson will write and direct a live action feature based on the French graphic album series Valerian, according to Variety.  The feature will be in English and tell the story of Valerian and Laureline, agents who travel through both time and space in the 28th century to protect the Terran Empire from rogue time travelers. 
The series has had multiple incarnations in English, most recently from Cinebook (see "Review of 'Valerian and Laureline' Vol. 1").
Besson previously collaborated with Valerian artist Jean-Claude Mezieres on Besson’s The Fifth Element, for which Mezieres did conceptual designs.  Valerian was written and co-created by Pierre Christin.