"Artificial Studios (recently purchased by Epic Games) today announced the development of Monster Madness, 'a four-player cooperative online-enabled action game for the PC and Xbox 360.' The following are clips from the fact sheet:

4-Player Cooperative Online Action
Mix local & online players as you try to survive the Monster's invasion. Each player character has unique items and affects how the story plays out.

3D Top-Down Shooting
Aim in any direction, including up and down. Hordes of Monsters attack you from all sides, but you can also utilize quick dodge-moves to avoid them!

Killer Graphics
Running on the Reality Engine, Monster Madness takes full advantage of the most advanced Shader Model 3.0 capabilities, including High Dynamic Range Rendering and fully dynamically lit & shadowed worlds.

Advanced Physics
Monster Madness is designed specifically for the Ageia NovodeX Physics platform, including use of the PhysX PPU. Interact with the environments physics to give yourself an advantage, such as creating barrides or throwing large objects."

This game should be released early 2006.