In March 2005, following months of teasing concept art for an unknown game, Flagship Studios' first title named Hellgate: London was announced via an exclusive article in the computer magazine PC Gamer.

Unlike regular first-person shooters, the game features RPG content in the form of e.g. random quests, and where a character's combat efficiency is more determined by statistics than player reflexes.

[4] However, it received mixed reviews, and complaints by many gamers that the game was released in an unfinished state, which was later admitted by CEO Bill Roper.

An online RPG, similar in style to Diablo, the game was used to test the networking technology behind the multiplayer component of Hellgate: London.

[7] Following the layoffs at Flagship Studios due to the financial issues, the intellectual property rights over Mythos have now been claimed by the Korean company Hanbitsoft, which was offered as collateral for loans earlier in the year.