Mega Man is a very endearing series, especially since the Blue Bomber use to be the mascot of Capcom. Armature Studio, comprised of three leads from the Metroid Prime trilogy at Retro Studios, we’re asked to make a new Mega Man game that was sort of a spirtual reboot of the series. They decided to make the game following close ties to the Mega Man X series, and turn it into a first-person shooter, something they successfully accomplished with Metroid.
The game was known as Maverick Hunter, though it’s likely that was just a codename for the project. It was canceled in 2010 shortly before Keiji Inafune left, which per all the other Mega Man projects, truly lead to the games demise. If your interested in finding out a lot more about the project, you can check out Polygon for more information.