The game stars the titular heroine Lili as she explores a mysterious island of Geos and its robotic inhabitants.
It is described as a combination of role-playing and adventure mechanics, with a unique "non-combat" approach to dealing with enemies.
BitMonster is a new studio founded by six former Epic Games developers who had worked on titles including the Gears of War trilogy, Unreal Tournament 3 and Infinity Blade.
The studio also announced that it has entered a multi-title licensing agreement with Epic to create games using Unreal Engine 3, with Lili as the first game in that deal.
Lili is being developer for iOS devices, and will be available "in the coming weeks", according to BitMonster.
Watch the debut trailer for Lili below: