With “Finding Dory” and “Beauty and the Beast” taking over the headlines lately, you might have forgotten about “Pete’s Dragon,” a new live action fantasy-adventure coming from Disney later this summer. Walt Disney Studios released the official Pete’s Dragon trailer earlier today, offering a great look at the rebooted franchise.

The new and updated Pete’s Dragon story follows the adventures of an orphaned boy named Pete and his best friend Elliot. A BFF that just so happens to be a dragon. David Lowery directed the film, he also wrote the screenplay with Toby Halbrooks. Starring in the film are Bryce Dallas Howard, Karl Urban and even Robert Redford.

Older readers might remember Disney’s live-action and animated hybrid film of the same name from the late 70s. That film was directed by Don Chaffey, and Malcolm Marmorstein wrote the screenplay at the time.

The 1977 version starred Sean Marshall, Helen Reddy and Jim Dale, and featured an abusive parent angle that may not make it into the rebooted storyline. Those were different times, with stories like Annie, Pete’s Dragon, James and the Giant Peach and other children’s films often times glossing over abusive parents or guardians. Well in 101 Dalmations we almost watched a sack full of puppies drown, so maybe that light-hearted abusive happened more often than not in these older tales.

In any case the new Pete’s Dragon looks to be a technical masterpiece of CGI and live-action filmmaking. Excited fans can watch the first official trailer from the film below, thanks to an early upload from Disney Studios.

If you want to catch Pete’s Dragon in theaters, you won’t have to wait that long, the film will hit cinemas in the United States starting on August 12, 2016.