Hifumi Kouno, the original creator of Clock Tower, Masahiro Ito, creature designer/art director for Silent Hill, and Ju-on director Takashi Shimizu are all involved in Project Scissors, a "spiritual successor" to the classic horror game.
The original Clock Tower on the SNES was one of the first true 'survival' horror games on console, focusing on the defenceless heroine Jennifer as she struggled to escape from Bobby. This guy:
Also known as 'Scissorman'. According to the press release, Ito, the creator of Silent Hill's Pyramid Head, is the "the creature and prop designer". While Shimizu has signed on as "creative producer" to collaborate on the story and "direct a live action teaser trailer for the game".
The only downside I can see is that this is a Vita/mobile game rather than a full console/PC release. It's still an interesting combination of people. Here's a canned summary of the plot:
The game’s setting is aboard a luxurious cruise line in the middle of the ocean. As the ship sails across the deep blue ocean, a series of gruesome and mysterious murders begins to take place, including the crew of the ship – soon the ocean liner is crippled and adrift in the sea, and it has become an inescapable trap for all passengers. As a passenger of the ship, the player will be tasked with solving the murder mystery to ensure the very survival of oneself as well as the rest of the ‘innocent’ passengers.
There's no release date yet but this year is the 20th anniversary of the original.