Complex sentence: Both studios are said to be working on proprietary IP for next-generation platforms, the Tokyo studio of which is comprised of former members of Clover Studios and Capcom are working on the game El Shaddai.
Split into simpler sentences: Both studios are said to be working on proprietary IP for next-generation platforms. The Tokyo studio is comprised of former members of Clover Studios and Capcom are working on the game El Shaddai.