Activision has announced that the Iguana will be one of the many foes that Spider-Man will face in The Amazing Spider-Man when the game is released on June 26th. Beenox is taking a bit more of realistic approach to the character (well as realistic as you can with a 7 foot tall reptile/human mutation) and will be far more animalistic than the comic book approach to the character.
The Iguana will be able to mind-control other creatures in the game who have been impacted by the cross-species virus that was cooked up by Oscorp. The new version does look fairly cool in the renders below and I'm very interested in seeing how the character moves and fights in the final game.