I think it was probably a western development team's take on a 3D version of the classic Castlevania games. Maybe it was originally pitched as a CV, but for some reason or other they decided to change the name and not include it as part of the series. Maybe they didn't want to step on Iga's toes and make him unhappy by handing creative control over to another team (because they still need him to crank out DS games). Or maybe the new team wanted to do a CV, but also tell their own story within the game, and it would have been too difficult to try and fit their story into the convoluted, jumbled continuity of the series, so they decided to start from scratch with a totally different characters.
I know, lot of speculation. But anyway, here's hoping they finally get 3D Castlevania right with LoS (even if its not Dracula vs Belmonts...)