The game is not currently under development, as it was being worked on by Nier studio Cavia. Cavia was closed and disbanded in 2010 a few months after Nier's release.
A former Cavia employee provided details of the game to Siliconera today (April 30) with the aim of building interest in the title to resume its development.
Catacombs - a co-operative first-person shooter - saw players trapped inside the Museum of Natural History in New York, which becomes infested with monsters as players discover a secret network of tunnels underneath its structure.
Levels were randomly generated, with players using magical weaponry both to fight off enemies and light up the dark underground passages. Weapons could be upgraded and change their form, such as a dragon-like magnum that would spread its wings and fire explosive shots at its highest level.
Catacombs was far along in its development, with a playable build that Square Enix had planned to show at E3 2011 before the studio's closure.
It was being developed for both Xbox 360 and PlayStation 3.
Square Enix's own title Sleeping Dogs was once in a similar situation, with the publisher picking up the game after Activision cancelled it under the title True Crimes: Hong Kong.