Japanese gaming company CAVE seems to be on a roll with the App Store. After the release of excellent Espgaluda II and Dodonpachi Resurrection games, CAVE has announced their first original title for the iPhone and iPod touch.
Mushihimesama Bug Panic is an original title featuring Bug Princess Reco, star of the Arcade and Xbox 360 game “Mushihimesama Futari”. They aren't offering many details on the new game but provided this trailer:
The game is categorized as "Bug Busting Action". Of note, CAVE seems to have drawn a line in the sand and will continue to only support high-end devices. This new game will be compatible with the iPhone 4, iPhone 3GS, 3rd Gen iPod Touch and iPad only. The game will be released in the Fall of 2010.
Update: Here's an early gameplay video from December 2009: