diff --git a/qiskit_ibm_runtime/qpy/binary_io/circuits.py b/qiskit_ibm_runtime/qpy/binary_io/circuits.py
index c0f86e2cb2..b8fbb07dc3 100644
--- a/qiskit_ibm_runtime/qpy/binary_io/circuits.py
+++ b/qiskit_ibm_runtime/qpy/binary_io/circuits.py
@@ -336,6 +336,9 @@ def _parse_custom_operation(  # type: ignore[no-untyped-def]
             base_gate = _read_instruction(
                 base_gate_obj, None, registers, custom_operations, version, vectors
             )
+        if ctrl_state < 2**num_ctrl_qubits - 1:
+            # If open controls, we need to discard the control suffix when setting the name.
+            gate_name = gate_name.rsplit("_", 1)[0]
         inst_obj = ControlledGate(
             gate_name,
             num_qubits,
@@ -549,7 +552,7 @@ def _write_instruction(  # type: ignore[no-untyped-def]
     has_condition = False
     condition_register = b""
     condition_value = 0
-    if instruction.operation.condition:
+    if getattr(instruction.operation, "condition", None):
         has_condition = True
         if isinstance(instruction.operation.condition[0], Clbit):
             bit_index = index_map["c"][instruction.operation.condition[0]]
@@ -667,14 +670,21 @@ def _write_custom_operation(  # type: ignore[no-untyped-def]
         has_definition = True
         data = common.data_to_binary(operation, _write_pauli_evolution_gate)
         size = len(data)
-    elif operation.definition is not None:
+    elif type_key == type_keys.CircuitInstruction.CONTROLLED_GATE:
+        # For ControlledGate, we have to access and store the private `_definition` rather than the
+        # public one, because the public one is mutated to include additional logic if the control
+        # state is open, and the definition setter (during a subsequent read) uses the "fully
+        # excited" control definition only.
         has_definition = True
-        data = common.data_to_binary(operation.definition, write_circuit)
+        data = common.data_to_binary(operation._definition, write_circuit)
         size = len(data)
-    if type_key == type_keys.CircuitInstruction.CONTROLLED_GATE:
         num_ctrl_qubits = operation.num_ctrl_qubits
         ctrl_state = operation.ctrl_state
         base_gate = operation.base_gate
+    elif operation.definition is not None:
+        has_definition = True
+        data = common.data_to_binary(operation.definition, write_circuit)
+        size = len(data)
     if base_gate is None:
         base_gate_raw = b""
     else:
diff --git a/requirements.txt b/requirements.txt
index 97f5f4bdfc..76b4b09127 100644
--- a/requirements.txt
+++ b/requirements.txt
@@ -1,4 +1,4 @@
-qiskit-terra>=0.21.1
+qiskit-terra>=0.21.2
 requests>=2.19
 requests_ntlm>=1.1.0
 numpy>=1.13
diff --git a/setup.py b/setup.py
index 0a81fa1e54..c43f033402 100644
--- a/setup.py
+++ b/setup.py
@@ -19,7 +19,7 @@
 import setuptools
 
 REQUIREMENTS = [
-    "qiskit-terra>=0.21.1",
+    "qiskit-terra>=0.21.2",
     "requests>=2.19",
     "requests-ntlm>=1.1.0",
     "numpy>=1.13",