Minimum boasts a simplistic look, and has you building a character up during each life, adding more and more power-ups to your weapons (ranging from ice-powered sniper rifles to flaming katanas) as you go. In Titan, the "signature" game mode according to the FAQ, players support two giant creatures fighting each other during the match.
TimeGate also says it hopes to bring "everyone to the development table to influence how the game grows and changes." Minimum will be in closed alpha soon, and is set for a Steam release whenever it's ready.
TimeGate is probably best known at the moment for its work on Aliens: Colonial Marines, but the company also made Section 8 and Kohan: Immortal Sovereigns in the past, so Minimum is coming from a substantial history of development experience for PC.
Update: The game will be available through Steam's Early Access channel on April 16 in North America.