Cave is readying its third iPhone/iPod touch game to follow Espgaluda and the recent DoDonPachi. The company announced today that Mushihimesama Bug Panic will be available for download from the AppStore this Fall.

Mushihimesama, off which Bug Panic is based, is a vertical shooter that originally saw arcade release in 2004. A sequel, Mushihimesama Futari, hit arcades in 2006. Xbox 360 got a version of that, Mushihimesama Futari ver 1.5, in November of last year.

Bug Panic is an original title starring Bug Princess Reco from those games. It was originally announced at the Winter 2009 Cave Festival as being in development for iPhone/iPod touch. Cave describes the game as a "multi-directional shooter."

You can view a newly released teaser trailer clip here:

Cave also opened a teaser site for the game today.

CORRECTION 16:34 - The original version of this article made the assumption that Bug Panic would be a bullet hell shooter. This is actually not the case. I've removed mention of bullet hell from the original story and added some details from Cave's English language press release.