'Shadowhunters' cancelled after three seasons

"

Shadowhunters

" will not return for its fourth season and the show's third spell will end this spring with a two-hour finale.

Sources told a leading website that producer Constantin Film lost the deal with the network which backed the expensive project

Based on the Mortal Instruments feature film franchise, the series will wrap up in the spring with the second half of season three.

Constantin sought a greater cash influx after the streaming giant pulled its support, which sources say was unable to afford to keep the series running.

"We are very proud of 'Shadowhunters', a series that broke new ground in the genre world and became a fan favourite. However, along with our partners at Constantin, we reached the very difficult decision not to renew the show for a fourth season. But as big supporters and fans ourselves, we insisted on and championed the filming of a special two-part finale that would give devoted fans a proper ending.

"The 12 episodes will air in spring 2019. We want to thank our talented creators, producers, cast and crew along with our colleagues at Constantin for their hard work and dedication and to

Cassie Clare

for her incredible book series. We look forward to the final chapter of this breakthrough drama," the network said in a statement.

The plot revolves around Clary Fray (Katherine McNamara), a woman who discovers a new side to her identity on her 18th birthday - she comes from a long line of Shadowhunters - human-angel hybrids that hunt down demons.

The series also stars Dominic Sherwood, Alberto Rosende, Matthew Daddario, Emeraude Toubia, Isaiah Mustafa and Harry Shum Jr.