System Shock 2 was a landmark title on the PC. The darkly futuristic world captured the heart and minds of many people of the 90's. It was a game that although looking a little rough by today's standards, was a milestone in game design.
It seems the sequel to System Shock 2 is in development over at Otherside Entertainment. In a teaser site, they have announced they are working on it, although very little beyond that is being mentioned. Right now it is only the name with the ability to sign up for updates and news for the title.
Otherside Entertainment is known for the Underworld Ascendant Kickstarter and is made up of ex Looking Glass developers, most notably Paul Neurath. It has yet to be seen what style of game they are working on, but with the pedigree of the studio, it should be interesting whatever they do.