Based on the name, wonder if the gel is an extract from an ancient medicinal oil from the plant Vetiver (Tamil)? The medicinal properties of this plant are well known since ancient times and are chronicled in ayurvedic practice and ballads of India.
It seems that "Veti" just refers to the veterinary application. I've played with similar would healing biomaterials before, and from the (scarce) available materials, it looks like they're using a sodium-alginate based polymer, which can be chemically crosslinked with calcium ions. With some additional clotting factors and tissue sealing agents (tranglutaminase comes to mind), rapid wound closure looks pretty feasible.
http://en.wikipedia.org/wiki/Chrysopogon_zizanioides http://ayurvedicoils.com/tag/vetiver-oil-in-ayurveda