Swank was thought to be in line for the lead role in Fangland since June.
"I guess that's why they call it a rumour, huh?" Swank told Empire, before confirming that she was definitely not involved with the project.
Carpenter will begin work on Fangland following his new film The Ward, Carpenter's first since 2001's Ghosts of Mars.
The plot of Fangland will be a reworking of Bram Stoker's literary classic Dracula, following the September 11 attacks. There have been no official announcements so far regarding either casting or release date for film.