Marvel Signs Drew Pearce to Write ‘Iron Man 3'

Drew Pearce also wrote the screenplay to Marvel's “Runaways,” now on hold

Writer and television producer Drew Pearce will write Marvel's "Iron Man 3," TheWrap has confirmed.

Pearce also wrote the screenplay to Marvel's "Runaways," now on hold. He was executive producer on ITV's "Lip Service."

Shane Black, who directed the movie's star, Robert Downey Jr., in "Kiss Kiss Bang Bang," is directing the third installment of the popular franchise, which is set for a May 3, 2013 release. Dowey will star in and had director approval on "Iron Man 3."

Black's work is known for combining elements of action, thriller, noir and comedy.

Jon Favreau, who directed the first two "Iron Man" films, announced in late Dec. that he will not be returning to the third.

The 2008 "Iron Man" grossed $585 million worldwide. The 2010 "Iron Man 2" grossed $622 million.

Pearce is repped by WME.

Deadline originally reported the story.