Flagship Studios' former Seattle team has announced its reformation as Runic Games.
The development team behind Mythos - picked up by T3 entertainment following Flagship's closure - will continue to develop action-RPG MMOs. The studio will be headed up by Travis Baldree and Max Schaefer.
Baldree was the project director behind Mythos, while Schaefer was one of the founders of Blizzard North and Flagship Studios. Runic Games says it will reveal details of its upcoming projects soon.
Mythos' beta was closed down in July and, while its future seemed uncertain, the title was later picked up by T3 entertainment who started listing job openings to work on the title, along with Hellgate: London, as part of a new studio in San Francisco.