Jennifer's Body helmer Karyn Kusama is directing the project, titled Invisible X, reports MTV.
The 40-year-old will play "two halves" of the same character in the film.
The movie is billed as a David Cronenberg-style horror that addresses gender and body issues.
There is no production schedule set for the movie.
'It's something we've talked about doing, but there are no immediate plans for it," Weisz said.
She added: "Sometimes it takes a while for these things to get off the ground."