A sequel to Deep Silver's Risen is in the works, apparently.
Known as Risen 2: Dark Waters, the game seems to be a pirate-themed fantasy RPG and might not have any connections with its predecessor.
Although, there's absolutely nothing known about the game right now, the first screenshots of the game has also crept up and they do hint strongly that you're going to be a pirate in the game.
Piranha Bytes have also put up an official website for the game and you can expect a formal announcement soon.
You can check out the screenshots below.