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The latest issue of Germany's Retro Gamer has revealed that a new Turrican game is in development titled "Turrican Rebirth". Like its predecessors, Rebirth will feature 2D gameplay, and functionality is in the works so that weapons and stages can be shared with others online.
Platforms are unknown, and Turrican Rebirth is just starting out, so we probably won't be seeing this one for awhile. Interestingly, Retro Gamer indicates that the project's right holders have been in touch with Giana Sisters: Twisted Dreams maker Black Forest Games.