On-Q-ity, which raised a $26 million Series A round back in December 2009, quietly folded its tents last year after an unsuccessful bid to develop its technology for personalized cancer detection.

Bruce Booth, a partner at Atlas Ventures, 1 of the VC shops that backed the company (and a member of On-Q-ity’s board), detailed the reasons behind the decision this week on his blog, Life Sci VC.