Today, former Flagship Studios Seattle team members announced that they have reformed as Runic Games. Flagship, the maker of Hellgate: London, recently confirmed mass layoffs, with the development of the upcoming MMO Mythos being put on hold. Having formerly worked on the said Mythos project, Runic Games confirmed that they intend to continue in the action/MMORPG genre.

Runic Games will be headed up by Travis Baldree and Max Schaefer. Baldree has the action/RPG Fate to his credit and served as Project Director for Mythos at Flagship Seattle. Schaefer helped create the Diablo franchise at Blizzard North and was a Flagship founder and Executive Producer for Mythos.

More announcements for Runic's upcoming projects are promised to be coming soon.