Clive Owen stars in the movie about two children who live in different countries but are visited each night by "a terrifying being who wants to take possession of them."
Nicolas Casariego and Jaime Marques wrote the script. Enrique Lopez Lavigne, Belen Atienza and Mercedes Gamero produced.
Fresnadillo (left) worked with Lavigne on "28 Weeks Later," which Fresnadillo directed and they both co-wrote.
The Spanish director is to direct Relativity Media's "The Crow" and is to direct Summit Entertainment's "Highlander" remake.
Millennium plans an April 2012 theatrical release.