Liebesman previously directed 2006 hit The Texas Chainsaw Massacre: The Beginning.
Chloe Sevigny is attached to star and further casting will be announced soon.
Manbreak is about four people who sign up for a psychology research study but discover they are actually subjects in a classified government programme. The story is based on true events.
Producers are Eleven Eleven Films' Ross M Dinerstein and Bobby Schwartz and Management 360's Guymon Casady and Ben Forkner
Dinerstein said: 'With Jonathan's talent and this captivating script, this project is a rare opportunity for both critical and commercial success.'
ContentFilm International's president Jamie Carmichael added: 'Manbreak just gets you and doesn't let go, and Jonathan's stellar box office record speaks for itself.'
ContentFilm's Toronto slate also includes Peter Greenaway's Rembrandt project Nightwatching.
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