Mubi has acquired “Queer,” Luca Guadagnino’s trippy adaptation of the William S. Burroughs novel that recently bowed in competition in Venice, in a multi-territory deal.

In another significant statement of intent, the fast-rising arthouse distributor, streamer and production company — whose festival acquisitions spree appears to still be on a major roll — picked up all rights to the buzzy feature, led by Daniel Craig, for the U.K./Ireland, Latin America, Mexico, Germany/Austria, Benelux, Spain, Canada, Turkey and India. It also acquired all rights excluding theatrical for Italy. A24 already bought the film for the U.S. The Veterans brokered the deal with Mubi.

“Queer,” which was met with positive reviews in Venice, is set in 1940s Mexico City and follows William Lee (Craig), an American expat who leads a solitary life amidst a small American community. However, the arrival in town of Eugene Allerton (Drew Starkey), a young student, stirs William into finally establishing a meaningful connection with someone. Lesley Manville, Jason Schwartzman, Andra Ursuta, Michael Borremans and David Lowery also star.

The film will have its U.S. premiere at the New York Film Festival and its U.K. premiere at the BFI London Film Festival. Mubi will announce its release plans shortly.

“Queer” was produced by Fremantle, Fremantle North America, Lorenzo Mieli for The Apartment (a Fremantle Group Company) and Guadagnino for his Frenesy Film Company, in collaboration with Cinecitta and Frame by Frame. Fremantle Group financed the film.

The film joins a growing list of high-profile titles on the slate for Mubi, which this year made a major splash with Coralie Fargeat’s bloody and extreme body-horror “The Substance,” starring Demi Moore. After acquiring the film before Cannes, where it won best screenplay, it became Mubi’s biggest release of all time and its first wide release in the U.S. as it ramped up its North American operations.

Earlier this week, after 10 days across its territories, “The Substance” had earned $13.6 million, with several markets experiencing a box office rise in the second weekend thanks to word-of-mouth buzz, making it Mubi’s most successful title in the company’s history. The film currently sits in second place in the U.K. box office behind “Beetlejuice Beetlejuice,” with Variety hearing that Vue — one of the country’s biggest cinema chains — now has the largest marketshare as opposed to more independent-focused cinemas, hinting that the R-rated film has begun to cross over into the mainstream.