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Back in July of last year, Melty Blood developer, French Bread, revealed that they were working on an entirely new 2D arcade fighter, following the commencement of Melty Blood Actress Again Current Code.
Titled Under Night In-Birth, the game is about 30-40% complete. French Bread have revealed four characters so far: Hyde, Linne, Waldstein and Carmine, all of whom you can check out at 4Gamer’s coverage of publisher, Ecole Software’s recent event.
You can find the official site for Under Night In-Birth here. Below is a poster for the game, courtesy of Hachimaki. Additionally, French Bread are also working on Lunaria, a horizontal shoot-em-up.