Edia launched a new teaser website at telenet-revive.com, which features artwork of SEGA Genesis shoot ’em up Gaiares. Text on the website teases “New Project Begins. November 22, 2022.”
According to Gematsu, the artwork resembles the original SEGA Genesis box art for Gaiares from 1990:

The website references Telenet Japan, the defunct Japanese game studio that originally developed Gaiares, Valis, Arcus, Pop’n Magic, and more. Edia acquired the rights to Telenet Japan intellectual properties in 2020. Since then, Edia released various Valis collections for Nintendo Switch.
Edia launched the Telenet Revive Twitter account today, and its first tweet reads, “Welcome to Shooters Heaven! November 22, 2022, a new project begins. Please share and follow this account!”