Executive producers are Christine Langan for BBC Films, Carolyn Marks Blackwood from Magnolia Mae Films (Philomena), and Henry Normal and Steve Coogan from Baby Cow (Philomena).
WestEnd Films will be touting the documentary to buyers at the Cannes Marche next month.
The prodigiously talented but tormented Polunin – a former principal dancer with the British Royal Ballet - caused a sensation last year when he announced his retirement from ballet to concentrate on a Hollywood acting career.