Retro Dreamer has announced that it will be releasing Monsters & Monocles on PS4, a twin stick shooter that will feature up to four player co-op. This multiplayer will be both a local and an online affair. The setting itself is a Victorian steampunk era where various strange weaponry can be used against the monsters, like the crumpet cannon.
In the game lives are limited, especially in multiplayer, so teams will have to be able to revive each other to tackle the procedurally generated levels. Destroying monsters gains players new relics that  in turn can unlock better abilities and items to use against the various waves that come for you. Monsters & Monocles will also be releasing on Windows, Mac, and Linux.
Source: PS Blog