Looking like a cross between a piranha's jaws and an extra-large office binder clip, the ITClamp is designed to almost instantly close a severely hemorrhaging wound when there's no time, or no one around, to apply staples or stitches. Primarily targeted at battlefield scenarios where wounds need to be dealt with as quickly as possible, the ITClamp also seems like a useful addition to a first aid kit where serious injury is a possibility.
When applied to a wound not only does the ITClamp close it almost instantly, it also applies a constant even pressure along the opening causing blood to pool and clot underneath so it helps stop the bleeding and stabilize the injured for transportation to proper medical care.
And it's a good thing the clamp is designed to be used in situations where you're already in intense pain, possibly even unconscious, since those rows of curved metal needles don't seem like they'd be too pleasant going in or yanking on your skin. But most people would probably be willing to endure a little extra agony if it meant they lived to see another day.