Magic Lantern Entertainment has secured $10 million to create up to 20 films over the next three to five years, beginning with "Bad Kitty," an animated comedy/adventure based on the feline character Heathcliff.

The funding comes from  Austin, Texas-based TF2 Ventures via its Innovation Entertainment label. Magic Lantern Entertainment President Jeff Segal and Jamison Stewart of TF2 Ventures announced the development deal Friday.

 “Our primary criteria will be that all of the films in our slate are ‘pre-sold’ in the market – a remake, sequel, adaptation of a book, comic book, graphic novel, musical play, video game, toy property, whatever,” Segal said. “The pre-sold quality of our titles mitigates our risk and jump-starts our marketing and promotional campaigns in support of each release.”

“Bad Kitty” is in pre-production with a target release in 2011.