EA recently held a press conference in Vegas we're Klei Entertainment, the makers of Shank said they were going to announce a new ip, and surprisingly enough, it was Shank 2, the sequel to the 2D side-scrolling with a unique comic book look.
Klei Entertainment is a fairly new company. Aside from Shank, they also created Eets which they self-published and recieved positive reviews. With the success of Shank, and now currently collaborating with EA partners, they have been working on Shank 2 for a year now. Aside from improving visuals, combat, etc for the sequel, they will also include an arcade-style co-op survival mode. Add a friend and survive as long as you came against hordes of enemies.
The official shank website is updated with a Shank 2 blog. Shank 2 will be out for PS3, Xbox 360, and PC in 2012.