Crimson Dragon is a game being developed by the developers of Panzer Dragoon at a studio named Grounding. The game was originally supposed to be released as a Kinect title for the Xbox 360 last year, but Microsoft revealed this morning that the game is instead coming to Xbox One.
Crimson Dragon is being directed by Yukio Futatsugi, the creator of Panzer Dragoon. Manabu Kusonoki (art designer on Panzer Dragoon and Panzer Dragoon II) is part of the team as well, along with Saori Kobayashi and Tomohiro Kondo, both of whom have worked on the series in the past as well.
You can watch a new trailer for Crimson Dragon above. Microsoft have not shared details of how the game has changed between now and the last time we saw it in 2013.