Note that the Swedish Academy only awards the Literature prize. Nobels in Physics and Chemistry are awarded by the Royal Swedish Academy of Sciences, and the Karolinska Institutet awards the Nobel in Physiology or Medicine. Thus, only the Literature prize is impacted by this.
The 't' at the end of 'Institutet' is the article, so you can write 'Karolinska Institutet' or 'the Karolinska Institute'.
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Sorry for furthering the pedantry.
Technically, non of these organizations "award" the prizes, the prizes are awarded by the Nobel Foundation and the Swedish National Bank, the Riksbank (only the economics prize). They just select the winners.
So it's not entirely impossible that he might one day receive it ;-)
https://books.google.co.uk/books/about/The_Beautiful_Poetry_...