Deadline reports Steve Pink will write and direct remake/reboot of the Toxic Avenger. Pink is best known for directing interesting high concept comedies like Accepted and Hot Tub Time Machine. He's also wrote films like Grosse Pointe Blank and High Fidelity. It looks like the plan is to make Toxie more family friendly and most likely will lose it's edge that Troma created. That's unless the studio ends up going for violent and raunchy which Pink could definitely provide.
In other Steve Pink news i09 reports that he'll team-up with Jack Black to make Robot Uprising based on the novel How To Survive A Robot Uprising by Daniel H. Wilson. Robopocalypse, another novel by Daniel H. Wilson is also being turned into a film by Steven Spielberg. While I haven't read the book it seems like it could be the robot version of Zombieland.