Exhibit 4.11

English summary of Principal Terms of the Fourth Addendum to the Lease Agreement (dated March 22, 2015, as amended by that certain Second Addendum entered on February 27, 2017 and that certain Third Addendum entered on August 8, 2018) entered into on March 11, 2021, by and between Mintz K. Construction Company Ltd. (the “Landlord”), as landlord, and Galmed Research and Development Ltd. (the “GRD”), as tenant (the “Addendum”).

The Addendum

● Premises covered by the Addendum: Approximately of 590 square meters (the “Total Premises”).

● Term of Lease: According to the Addendum, the term of the lease of the Total premises shall be from March 22, 2021 until March 21, 2023 (the “New Lease Term”), provided however that GRD shall have an option to extend the New Lease Term in accordance with the terms of the Lease Agreement, from March 22, 2023 until March 21, 2024 (the “Option Period”).

● Fees: GRD shall pay a monthly rental fee in the amount of NIS 35,000 plus VAT for the Total Premises. In the event that the option is exercised by GRD, GRD shall pay monthly rental fees for the Total Premises in the amount of NIS 38,290 during the Option period.

● Security: GRD shall provide the Landlord with an autonomous bank guarantee of NIS 172,264.