"Milo," a horror-comedy starring Ken Marino as a man with a stomach possessed by a demon, has been acquired by Magnet Releasing, TheWrap said.

Magnet, the genre arm of Magnolia Pictures, snatched up the North American rights to Jacob Vaughn's film at SXSW, where it premiered over the weekend.

The film follows Duncan (Marino) who discovers that his insufferable gastrointestinal pain is not a medical mystery but a supernatural one as a gremlin has burrowed deep inside his intestines.

Triggered by excessive anxiety, the demon pops out to wreak havoc on Duncan's life by slaughtering those who have angered him. In an effort to control the little monster, Duncan befriends it and names it Milo.

“Just like Ken Marino, our stomachs were hurting watching 'Milo,' happily because of laughter rather than an intestinal demon,” Magnolia President Eamonn Bowles said. “'Milo' is a rare entry in the horror-comedy genre that truly delivers.”

Patrick Warburton, Mary Kay Place, Stephen Root, Peter Stormare and Gillian Jacobs co-star in the comedy executive produced by Mark and Jay Duplass -- the indie directing duo behind "Cyrus" and "Jeff, Who Lives at Home" -- as well as John Norris, Kerry Johnson, Dallas Sonnier, Jack Heller, Clay Floren and Aimee Shieh.

Adele Romanski produced with New Artists Alliance’s Gabriel Cowan and John Suits. Benjamin Hayes co-wrote the screenplay for "Milo" with director Vaughn.