At PAX East BioWare announced that the team that developed the Mass Effect series has moved on to develop an entire new game. BioWare Edmonton is the main headquarters of the studio and was the team behind the Mass Effect series. According to Casey Hudson, the team has now moved on to creating an entire new universe and will have nothing to do with previous BioWare created games.
Hudson and the team would not go into any detail about the game or when we could expect news on the game, but it is safe to say this “new” game universe will be BioWare’s “Mass Effect” series for next generation consoles. Meaning, it will be the franchise the head BioWare team spends the majority of their time on during this next console generation, so expect sequels to the initial game.
As for the Mass Effect series it is being handed over to the BioWare Montreal studio and will supposedly be a fresh take on the series. It is likely news about the next Mass Effect game will hit before we hear anything about the unnamed BioWare franchise, because it sounds like it the new franchise is still in very early development stage. In other words, it may be a year or so before we hear another thing about this new BioWare franchise.