Digital Extremes has a free-to-play, 4-player cooperative, PvE third person action shooter in the works. It’s called Warframe, and from this Alpha introduction trailer, the development process seems to be going well for the veteran developers responsible for Unreal and the Unreal Tournament franchise.
The free to play title is getting ready to enter into closed beta, and those that are interested can sign-up for a chance to be one of the first to test the new game. The beta is slated for early fall, but no official start date has been announced.
You can sign-up for the beta for Warframe here.