Source: Variety

Following in the footsteps of X-Men Origins: Wolverine, the Spider-Man franchise will now have a spinoff of its own with Venom. Gary Ross has been tapped to pen the screenplay and he'll also produce with Avi Arad.

The character of Venom was introduced in Spider-Man 3 and he was played by Topher Grace. Spider-Man 3 grossed nearly $870 million worldwide, so if Venom can take even a fraction of that it will be a success.

Spider-Man 4 and Spider-Man 5 are currently in development.