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Mandate Pictures Co-Founders Joe Drake, Nathan Kahane Launch Good Universe

Mandate Pictures founders Joe Drake and Nathan Kahane form Good Universe, which will sell the rights to some of Mandate's upcoming films

Mandate Pictures founders Joe Drake and Nathan Kahane have launched Good Universe, a new film financing, production and global sales company.

Good Universe begins fully staffed and will work with Lionsgate, which now owns Mandate, to finish a number of Mandate's films currently in development. The company will also look to acquire "bigger multi-quadrant properties with true franchise potential," as well as reinvest in horror films and the types of movies that defined Mandate like "Juno" and "50/50."

"Nathan and I are excited to continue and evolve the partnership we first forged nearly 10 years ago," Drake said in a statement. "We take great pride supporting filmmakers and the creative process, and are energized to expand our already successful business model for films in a  wide variety of genres."

After selling Mandate to Lionsgate, Drake became head of production at Lionsgate. He left the company after this March's Lionsgate-Summit merger. 

Also Read: Lionsgate-Summit Laying Off 80, Signs Long-Term Deal With COO Steve Beeks

Drake and Kahane's new company will continue to have a relationship with Lionsgate and Mandate, helping to complete "Hope Springs," which reunites "The Devil Wears Prada" director David Frankel with star Meryl Streep. Good Universe will also work with Lionsgate on Seth Rogen and Evan Goldberg's directorial debut, "The End of the World."

Drake and Kahane, who have been partners since the founding of Mandate in 2003, will oversee the sales of their first two films, Spike Lee's "Oldboy," a remake of the Park Chan-Wook classic, and "Last Vegas" from director Jon Turteltaub.

"Our goal with the new independent venture is to produce and finance quality commercial entertainment and serve as a value incubator for content creators, authors and idea generators," Kahane said in a staement.