The Filipino singer was snapped up as the classic rock band's frontman after guitarist Neal Schon spotted him performing in a Journey tribute band on YouTube.
Pineda, who has been credited with reviving the group's fortunes in recent years, was the subject of documentary "Don't Stop Believin': Everyman's Journey" and now that film has inspired a biopic, which Chu will direct.
"The success of 'Crazy Rich Asians' has blown my mind and set me on a path to champion more unique inspirational stories that represent new perspectives from all around the world," Chu tells Deadline. "This story in particular has been on my mind since I first read about it years ago.
"A true fairy tale and triumph of the human spirit. An unlikely hero, an undeniable talent, the power of music and a worldwide stage (literally) has all the ingredients I love about movies. Plus I have been a fan of Journey's music since I can remember. I am excited to be bringing the audience along on this incredible story with my partners at Warner Bros, who have been a leading champion of diverse voices in front and behind the camera."