From the Guardian:
A director has yet to be named, but the film will be written by British screenwriter Tony Grisoni, no stranger to the subjects of drugs and paranoia after his work on Terry Gilliam's film Fear and Loathing In Las Vegas. Grisoni is planning to weave elements of Dick's fiction, particularly his last, unfinished novel The Owl in Daylight, into the story of his life. "I'm not really interested in the literal truth," he says.
"We've been trying to get this to happen for at least the last three years," says Laura Leslie, Dick's eldest daughter and one of the film's producers. "We knew it was going to happen, but we wanted it to be something that was more multifaceted, not just, 'Let's focus on this guy's five wives and the drugs.' It's going to be non-traditional. It's about the creativity and not the events."
Sounds awesome to me.