Red Barrels are a new studio based in Montreal. You've likely never heard of them, but there is some serious talent there.
The team, comprised mostly of ex-Ubisoft and EA developers, have worked on the Assassin's Creed, Uncharted, Prince of Persia, Thief, Splinter Cell, Rainbow Six, Army of Two and Skate franchises. Just to name a few.
This is Outlast, their debut title. Billed as a survival horror game, it appears to be taking the term at face value. You're quite literally trying to survive horrors whatever way you can, in a first-person game set in an insane asylum where you're being hunted by inmates who are essentially zombies with brains.
Hopefully the entire game follows the tone of the trailer; while they're not technically zombies, it's a neat twist to be running away from the bad guys instead of fighting them.
Outlast is currently slated for the PC, and will be available sometime next year.