According to Joystiq:
Sega today confirmed work on its Captain America game, officially titled Captain America: Super Soldier, due in 2011 in conjunction with a feature film. Marvel is already in production on the Captain America and Thor movies due next year (in advance of Joss Whedon’s 2012 Avengers flick), and Sega will also be handling the Thor game adaptation. Captain America is being developed at Next Level Games (Punch-Out!! Wii, Spider-Man: Friend or Foe) for PS3, Xbox 360, Wii, DS and PSP.
A third-person action game, Super Soldier will bet set during World War II and will see Cap facing off against his nemesis, Red Skull, within the walls of a castle turned Hydra base. Sega is touting a “highly athletic combat system with fluid platforming and a highly tuned suite of shield attacks,” mentioning that the iconic offensive weapon will be used for “taking out multiple enemies at once, deflecting incoming fire back at enemies, solving puzzles, and scaling walls.”
The game’s story is penned by Christos Gage and is set “within the same world” as the movie.