This is the 1st book in the Kane Chronicals series by Rick Riordan who is fast becoming one of my very favorite writers. The formula is similar to that of the Percy Jackson books or as it's more appropriate to call them now the Camp Halfblood books. Greek gods were replaced by their Egyptian counterparts and demigods by Egyptian wizards.
While the setting in the Camp Halfblood books is similar to the one in Harry Potter books: Camp Halfblood = Hogwarts, Chiron = Dumbledore etc., in the Kane books the setting is different. The House of Life which is supposed to be the Kanes safe house is like Hogwarts rulled by death eaters in the 7th book. Carter & Saddie has to fend for themselves with the help of Bast the cat godess and Koffu the baboon.
The book is wonderful. Couldn't put it down. Can't wait for book 2.