Fox Animation has picked up the rights to children's book Momotaro: Xander and the Island of Lost Monsters, The Hollywood Reporter reveals.

Margaret Dilloway, best known for chick lit fare, such as How to Be an American Housewife, tapped into her Japanese heritage to pen the book, which is partially based on a Japanese folktale.

The story tells of a sixth grader named Xander Miyamoto who hopes to spend spring break with his best friend. But when his father disappears, he and his pal go on a journey rife with monsters and demons from Japanese myths.

The studio is now on the hunt for a writer.

Darlene Caamaño Loquet will oversee the project for the studio. Dilloway is repped by UTA.