Scott tells the Hollywood Reporter:
“While Alien was indeed the jumping off point for this project, out of the creative process evolved a new, grand mythology and universe in which this original story takes place. The keen fan will recognize strands of Alien's DNA, so to speak, but the ideas tackled in this film are unique, large and provocative. I couldn't be more pleased to have found the singular tale I'd been searching for, and finally return to this genre that's so close to my heart.” (article)Personally I'm fine with this. I've never been a fan of the idea of making PREQUELS to Alien, even if done by Scott. I say let the damaged-beyond-repair franchise die and rest in peace. I now enthusiastically look forward to a new sci-fi by Ridley Scott!!!
*thanks for the scoop, Ted Van Duyn!