The Worms developer, who rebooted Alien Breed for consoles and PC last year, said that it is always difficult to develop new titles when Worms is so successful.
"Potentially, never say never," head of design John Dennis told Digital Spy.
"I think one of the problems, if it can be a problem of having a massively successful IP, is that you're rather a hostage to that IP, and you think what should we do, make a game in that massively successful IP or shall we do something else?
"You know, business kind of dictates. We could be more successful with this thing other than that. That's not to say we're not currently working on wholly original things."
Watch a video of Superfrog below:
It was added that the most requested reboot after Alien Breed is Amiga platformer Superfrog.
"Although we haven't got anything in development for that at the moment, never say never," said Dennis.
Head of marketing Alan Perrie added: "[Superfrog] is certainly fondly remembered by quite a lot of fans."
Team 17 released a number of action titles in the early '90s, including Alien Breed, Assassin, Project-X and Body Blows.
It will be releasing hybrid spinoff Worms: Crazy Golf on PlayStation 3, PC and iOS this week.
> Worms: Team 17 on the past and future of a multiplayer classic