While there have been sequels and follow ups to Corpse Party for PSP, those games were developed internally at 5pb. Meanwhile, the original Corpse Party started work on a brand new title called Corpse Party 2: Dead Patient.
The story begins when Ayame Ito who wakes up in a creepy hospital connected to an EKG and other medical monitoring equipment. Ayame has no idea how she got there, but there’s no time to think about that because this hospital has monsters to worry about. Corpse Party 2: Dead Patient is being released in episodes and the first one is available now in Japanese. No plans have been announced to localize Corpse Party, but Xseed seems fairly committed to the horror game series. Perhaps they will pick Corpse Party 2 up?