The half-hour series, being developed by Showtime, would star Cumming, 50, as the charismatic Frenchman. It is set in the mid-1980s against the backdrop of the AIDS crisis, reported Variety.
The eatery, 'Florent', helped revitalise Manhattan's Meatpacking district and became a hub for gay rights and AIDS activists.
Morellet was famously open about his own HIV-positive status, posting his T-cell counts on a board alongside the restaurant's daily specials.
Patricia Resnick, of "Mad Men", is penning the script, with Rosemary Rodriguez ('The Good Wife') directing.
The project, which was previously set up at SundanceTV, has the blessing of Morellet, who is on board to advise.
Cumming currently stars on legal-political drama "The Good Wife".