In its report, Deadline describes the new version as follows: "It centers on Catherine (Kreuk), a tough-minded NYPD Homicide Detective haunted by witnessing her mother’s murder 9 years ago and the killers’ quick demise at the hands of a Beast. After years of searching, Catherine finally finds the Beast, Vincent Koslow, the survivor of a military experiment that went disastrously wrong, and becomes the protector of his secret life as a bestial superhero."
Vincent's last name is a tribute to B&B creator Ron Koslow, who serves as an executive producer on this version though it's unclear how involved he'll be in the potential series itself.
Okay, a bit of Beauty and the Beast editorializing here: While this version could work in its own right, it's bewildering that they've decided that this is a remake of the '80s show. Whereas in that show Vincent was a kind of lion-man, who lived in an underground tunnel world that grew to have fantastical elements (not surprising given that Game of Thrones' George R.R. Martin was one of the show's guiding forces), and his past is never truly revealed, the new version seems to have very little in common with it. We know what happened to Vincent (military experiment gone wrong), there is no underground society and the question of whether or not Catherine and he can be together is a lot more moot than it was on that show where they were beings that obviously represented two different species. It would seem that in this new version, she primarily has to decide whether or not she can deal with all of that hair (the outgrowth of which is a result of the experiment).
The apparent downside of terming this a remake of the '80s show is that it now rules out the possibility of there being a new version that could hew closer to that show's settings. Instead of plunging the viewer into a mix of real world and fantasy, this version (which is described as being romantic "with a procedural twist") sounds like it will be decidedly grounded in reality (outside of Vincent's freakish strength).