It's completely fucking dead, in fact. Between 2007 and 2009, it worked like this:
1) write a spec script.
2) pay a company like Top Cow to make it.
3) Give Top Cow's work product back to William Morris (CAA had their own department; endeavor didn't)
4) William morris shows it around and some studio somewhere options it
5) William Morris makes 10% of the option money, their writers go on to get meetings and maybe a few other assignments, the project gets shelved where it's never seen again, everyone makes money and nobody has to make a movie.
Ari Emmanuel wasn't into it so when Endeavor took over WMA that whole thing stopped.
Put it this way: James Cameron made Avatar because it was easier to get greenlit than Battle Angel Alita. Read that again:
The guy who brought you movie cyborgs and* titanic can't get money for a movie about a cyborg chick.*
Probably because Dark Angel didn't accomplish much other than launching Jessica Alba on us.