The pair are working on the graphic novel with a possible movie adaptation also in the works, reports Deadline.
Live Free Or Die Hard producer Arnold Rifkin and Liquid Comics CEO Sharad Devarajan are developing the film with Craven.
No details have been released about the Coming of Rage project, but the teaser strongly hints at a horror and possibly vampiric theme.
The collaboration between Liquid Comics, Craven and Rifkin was first announced at San Diego Comic-Con in 2010.
Craven is best known as the creator of the Nightmare on Elm Street and Scream franchises.
Niles has created a series of popular horror comics, including 30 Days of Night which was adapted into a movie in 2007.