BioShock 2 DLC Minerva's Den was pretty much a game unto itself, so it makes sense that its development team should found their own studio to create something free of the constraints of a major publisher.
The Fullbright Company is the name of that studio, and their aim is to create "immersive places to inhabit, and a deep, personal story to explore at your own pace." According to co-founder Steve Gaynor, "We missed working on a small team, on a small project, focused on telling a personal story in a player-driven way."
The studio's first game is as yet untitled, but it promises to be "A nonviolent game in an unfantastical locale", which sounds intriguingly un-BioShocky. But Gaynor also says the BioShock series does "an amazing job of balancing story and atmosphere with player-driven exploration," which could be an indication of what they want from their game.
We're guessing that an underground carpark will take the place of Rapture, and that instead of plasmids and guns you'll have the feelings of love and limerence.