Jim Henson's Daughter Lisa Teases Potential 'Dream-Like' Biopic About Her Muppets Creator Dad

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Jim Henson's daughter Lisa Henson says a film about her beloved Muppets-creator dad could be coming soon.

Speaking with PEOPLE at the AFI Fest premiere of Guillermo del Toro's Pinocchio, which was produced in association with The Jim Henson Company, Lisa said there are early discussions that the production company her late father founded may be teaming with Disney, which purchased the signature Muppets characters back in 2004, to produce a biopic.

"I have been in a slow-motion development deal with [Disney] about Muppet Man, which is a sort fantastical biopic of my father," Lisa, who serves as CEO of The Henson Company and is a producer on Pinocchio, says of potential upcoming collaborations.

"That would be the Muppet project that I would do with Disney, although it's not soon enough to announce it or talk about it, really, but that's the one that we have in mind," says Lisa.

"It's only in development and we don't have a director, so I feel I can't really say exactly what it will be like, but it does have a dream-like quality where the puppets are coming to life and mixing that with a true story," she adds.

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"My father was so overwhelmingly creative, with ideas just flowing out of him all the time," says Lisa of the aspect of her father she most hopes to share with audiences.

"I've really met so few people in my life that have that fountain of creativity that just never stops flowing," she continues. "I think kids should be encouraged to be as ambitious as possible with their creative dreams because they might not do just one famous thing. They might go on to do hundreds of things."

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Jim debuted the Muppets, a marionette/puppet hybrid, on the short-form TV series Sam and Friends in 1955. He subsequently developed pioneering techniques and enduring characters on commercials, TV specials and variety shows, and on Sesame Street before launching a fresh ensemble of characters led by Muppet stalwart Kermit the Frog into superstardom with The Muppet Show in 1976.

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Hit films, many directed by Jim, followed, including The Muppet Movie and more features starring the core characters, as well as edgier fantasy fare like The Dark Crystal and Labyrinth, and further children's programming like Fraggle Rock, recently revived on Apple+ under The Henson Company's creative auspices.

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Jim died in 1990 at the age of 53.

After 14 years of negotiation, Disney acquired the bulk of the familiar Muppet characters and properties from The Henson Company in a $75 million deal, and have since featured them in a wide variety of subsequent film, TV, gaming and theme park projects, most notably the 2011 film The Muppets, starring and co-written by Jason Segel.

Guillermo del Toro's Pinocchio is on Netflix Dec. 9.